The ANC government is extremely dangerous and threatens the financial survival of South Africa, as its eagerness to lend remains unsaturated.
This is the opinion of an economic adviser following the SA Reserve Bank’s announcement that government debt is rising faster than provided by any institution.
The government’s total loan debt has risen to a breathtaking level of just over 58% of the annual budget.
Experts point out that South Africa has now reached the point where Moody’s can no longer turn its head, and even if that were to happen, it is an undeniable reality that the country has landed deep into the abyss of being subjected to junk status, and may not be coming out of it again soon.