மாற்று பட்ஜெட் News Today : Breaking News, Live Updates & Top Stories | Vimarsana

During Finance Minister Tito Mboweni’s budget speech, some sobering truths were revealed. South Africa’s sovereign debt situation is enough to make anyone’s eyes water. In the face of declining tax revenue, an 80% debt to GDP ratio is, by any definition, a crisis. With the public sector wage bill now gobbling 47% of the tax collected from a shrinking tax base (owing to record high unemployment levels), Mboweni can no longer deny that something has got to give. The pandemic has squeezed another R230bn from a country that can no longer afford to run itself without borrowing at an alarming rate. The reality is that leadership will have to make some changes that will, no doubt, be unpopular amongst civil servants. The Democratic Alliance has assessed some of the ruling party’s challenges and offers its own plan to tackle the country’s debt problems. John Steenhuissen lays out the opposition’s rationale, along with some simple truths. – Melani Nathan

South africaSouth africansMelani nathanAlbert einsteinTito mboweniJohn steenhuisenJohn steenhuissenDemocratic allianceLand bankDuring finance minister tito mboweniAlternative budgetMinister tito mboweni2021 budgetDebt burdenSovereign debtBusiness news