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Dissecting SA's debt situation ahead of the MTBPS

26 October 2020 5:14 PM
Tags:
Hilary Joffe
finance minister tito mboweni
2020 medium term budget policy statement
Business Times

Business Times contributing editor Hilary Joffe says the government needs to borrow R777-billion.

Finance Minister Tito Mboweni is set to table a growth-friendly Medium Term Budget Policy Statement on Wednesday as the economy continues to take a battering from the COVID-19 pandemic, with growth expected to shrink by between 7% and 8% this year.

The minister also has to deal with trying to reduce the country’s runaway debt amid growing expenditure meant to resuscitate the economy after the impact of Covid-19.

Business Times contributing editor Hilary Joffe unpacks this.

The government needs to borrow R777-billion which is just about double what was needed to borrow before the crisis. And it stays very high. And of that, R600-billion is supposed to come from the domestic market. The vast majority of that that comes from the domestic traded marketing bonds.

Hilary Joffe, Contributing editor - Business Times

Listen below for the full interview...


26 October 2020 5:14 PM
Tags:
Hilary Joffe
finance minister tito mboweni
2020 medium term budget policy statement
Business Times

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