简体中文
繁體中文
English
Pусский
日本語
ภาษาไทย
Tiếng Việt
Bahasa Indonesia
Español
हिन्दी
Filippiiniläinen
Français
Deutsch
Português
Türkçe
한국어
العربية
South African Finances ‘Dangerously Overstretched,’ Mboweni Says
Abstract：SHARE THIS ARTICLE ShareTweetPostEmail Residents queue to receive their South African Social Securi
The pandemic has left government finances in South Africa “dangerously overstretched” and heightened debt threatens the country‘s future economic prospects, Finance Minister Tito Mboweni wrote in an opinion piece for Johannesburg’s City Press.
The last quarters sharp drop in economic activity is flowing through to tax revenues and an expected budget shortfall of more than 300 billion rand ($18 billion) will mean more government borrowing, Mboweni said.
South Africans economy shrank an annualized 51% in the three months though June from the prior quarter as household spending, capital outlays and exports all dropped.
Mboweni said the severity of the slump underscores the need for reforms that have been talked about for years but not well executed.
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
WikiFX Broker
Latest News
Why Even the Highly Educated Fall Victim to Investment Scams?
WikiFXWarning Against Globalmarketsbull & Cryptclubmarket
WikiFXAxi Bids AUD 52M to Acquire Low-Cost Broker SelfWealth, Outbidding Competitor Bell Financial
WikiFXCrypto Influencer's Body Found Months After Kidnapping
WikiFXCurrency Calculator
