Finance Minister, Tito Mboweni issued a cold warning Wednesday in his Medium Term Budgetary Framework (MTBR), and said if action is not taken urgently, South Africa could end up in a debt trap, with rising interest payments on debt, higher interest rates and even higher unemployment. This admonition comes amid a sharp lower adjustment in..
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SA debt burden sky-high, municipalities bankrupt, SOE’s a huge burden on taxpayers’ shoulders, and ANC regime not capable to find solutions that are feasible and effective
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SAA airline finds itself in a perpetual debt trap that it just can’t escape from without government bailouts – all this because of incompetent ANC politicians, mismanagement and corruption
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There’s a lot to take in with this story below of what could potentially become a massive crisis for the South African fiscus and taxpayer. In a telltale sign, suppliers to SAA are slashing their payment periods from 21 days to 7 days amid fears of a total collapse in the airline’s finances. This alone..
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