Dissecting SA's debt situation ahead of the MTBPS
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...
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