SA ignored warnings about its debt crisis. Now you and I will pay dearly
After squandering our fiscal inheritance from a decade back we face an unprecedented financial crisis with no firepower
When Tito Mboweni rises in parliament on Wednesday afternoon to present his revised budget, the normally emollient finance minister will likely replace his usual beaming smile with a grim rictus.
This, after all, in the direst economic circumstances in more than 70 years (cue the Great Depression of the 1930s as an approximate marker on the financial GPS), will be the worst budget in living memory and even before.
Carol Paton, editor at large for Business Day, probably understates matters when she describes Wednesday’s event as “a horror story”. ..