South Africa buys some time

[BusinessTech]

South Africa buys some time

Finance Minister Enoch Godongwana has cracked open the vault - but it's just a temporary fix, and not nearly enough to address South Africa's major structural problems.

 

[dualmeister]

a temporary fix until the country generates faster economic growth

 

[Quicks]

Woohoo let's party. I bet poof R500 Billions will be spend and they will have nothing fokall to show for it.

Where have we seen this again.

 

[porchrat]

You'd think them having to tap into these reserves would be a massive warning bell for government that now is the time to cut the reckless spending. Nope. Just keep digging.

 

[ToxicBunny]

You'd think them having to tap into these reserves would be a massive warning bell for government that now is the time to cut the reckless spending. Nope. Just keep digging.

When they're done there is still R350bn or so in the reserves, no need to panic just yet...

At least that is the way our lot are looking at it.

 

[Solver]

Selling off our FX reserves, Fuel reserves, SOE assets, etc to fund government salaries and grants. I'll reserve my true thoughts and related colorful language....

 

[rvZA]

This is no solution at all. The money is already gone. Next up... default in debt repayments in coming months....

 

[Dups!]

You'd think them having to tap into these reserves would be a massive warning bell for government that now is the time to cut the reckless spending. Nope. Just keep digging.

For me, it is no so much them tapping into the reserves, it is who is doing the tapping.

These fools chowed the R500 billion from the UIF during COVID and nobody really knows what happened.

 

[rvZA]

For me, it is no so much them tapping into the reserves, it is who is doing the tapping.

These fools chowed the R500 billion from the UIF during COVID and nobody really knows what happened.

It is their government. It is their country. They fought for freedom while the masses were at home. Time to accept this and move on.

 

[Paul Kemp]

Hang onto your sofas.

 

[GrootVoet]

1) New official cars for all the ministers and deputies.
2) New A350 presidential jet for Cyril.
3) Solar for all the traditionally leaders.
4) .....