The South African economy is collapsing along with the extremely weak Rand down after it became known that the fuel price would increase by R1-20 in April. As if it’s not enough reason to panic consumers, Eskom increased its load shedding to Phase 4.
The load shedding can remain in force until Wednesday 29 March 2019, which means South Africa throws at least R2 billion a day into the sewers. It could amount to as much as R14 billion for the period, something the country’s economy can’t bear.
With load shedding increased to Phase 4, the debt burden could increase by as much as R20 billion.
Financial experts have warned that the condition could lead to new lows and rating of rubbish status.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
