Following the disappointing mid-term budget speech by Tito Mboweni, the Rand reached its lowest level in weeks. Eskom’s rescue plan has nowhere really figured in either Pravin Gordan’s submission or Mboweni’s budget reason. The government’s financial situation is rapidly deteriorating with the national debt of R3 trillion and a tax deficit of R53 billion. Moody’s..
Continue reading…
SA has a national debt of R3 trillion rand and tax deficit of R53 million
Posted on Leave a comment
South Africa’s disastrous debt of more than R3 trillion: How will the ANC pay it back?
Posted on Leave a comment
Eish! South Africa’s national debt now averages more than R55 000 for every living citizen. But who has racked up the numbers, and where does it go? Is there any better summary for South Africa’s woes than a giant ticking clock on a bleak background? The “debt clock” – monitored and calculated by currency specialists..
Continue reading…
The ANC has dragged the country into recession, but what does it actually signify for us as South-African Citizens?
Posted on Leave a comment
Since yesterday September 5, 2018 around 12:00 it was announced that South Africa is in an official recession. Nearly everyone read about it with great concern, but few realize exactly what it entails.
A recession suggests a phase of temporary economic decline during which trade and industrial activity are reduced, generally identified by a fall in GDP in two successive quarters. The current recession in the country was caused by the debate about land expropriation without compensation, which undermined a very principle of the freemarket system; and the full particulars of the thuggery and corruption from Zumagate now becoming public.
Continue reading…