How can South Africa recover from the economic woes amid the cover-19 pandemic?
Last week, Finance Minister Tito Mboweni delivered the Medium Term Budget Policy Statement (MTBPS) proposes a five-year fiscal consolidation to narrow the budget deficit and stabilise government debt. The biggest highlights were that the South African economy is expected to contract by 7.8% in 2020, while our debt is set to rise to R5.5 trillion in 2023/24 fiscal year. The ailing national airline received another bailout. The effects of the Covid-19 pandemic continue to affect various industries here in South Africa and across the world. Did minister Tito Mboweni’s budget speech give us confidence on how we can get out of the current economic crises. To answer that question and more, we speak to Political analyst Mighti Jamie.