Treasury’s Forecast Failure
NT has failed to fundamentally grasp the nature of the post-GFC world the business and credit cycle, growth and taxes revenue.
The growth impact of the state’s much-vaunted infrastructure spending drive may be negligible as bulk material costs have soared.
What’s the Risk of Junk For SA?
South Africa is feasting on a flood of ultra-easy money, masking deeper fiscal dysfunction. Further downgrades seem inevitable.
Including major public enterprises and local government debts, central government implicit and explicit debts are 80% of GDP.