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Economists warn of tough times ahead─── DANE BEISHEIM 16:45 Wed, 25 Oct 2017
South African consumers should buckle up, because it is going to be a bumpy ride.
This is according to Efficient Group Economist, Dawie Roodt, in reaction to Malusi Gigaba's first Medium-term Budget Policy Statement as minister of Finance. Gigaba tabled his budget in Parliament this afternoon. Apart from a revenue shortfall of R50.8bn for the 2017/18 budget, low economic growth - down to an expected 0.7% this year - has resulted in a substantial debt risk hike. Roodt says South Africans are in for a tough time ahead.
“And I think we have to be honest about this – the reason why we are going to go through this difficult period has to do with the sub-standard political leadership that we’ve had in South Africa the past couple of years,” Roodt ends.
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