KNIFE EDGE
Slowly but surely, the severity of South Africa’s fiscal situation is starting to sink in. The country is simply not expanding at a pace that is supportive of securing the revenue growth required to meet the ever-increasing demands on the public purse. The country’s debt is likewise reaching unsustainable levels. As a consequence, there are strong indications that Finance Minister Tito Mboweni has left his beloved kitchen and is, instead, seeking to apply his cutting skills to departmental budgets.
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