Will the ANC head of state, Jacob Zuma, be prepared to set the example with savings to rescue the economy and prevent further downgrades?
This is the question demanded by economists after Zuma instructed the finance minister to identify specific measures to cope with the country’s economic challenges and to cut the deficit in the budget by cutting spending. It must also stimulate economic growth.
On Friday, Standard and Poor’s downgraded the country’s government debt to junk status.
An economist, Azar Jammine, said the government should eliminate wasteful and unauthorized spending. He believes that by removing only unauthorized expenditure, the country will save more than R45 billion.
Zuma himself is a heavy burden on the country, with personal safety precautions, and the fact that his harem of women also have official vehicles and must be protected. Because the Nkandla debacle is settled, observers fear that a lot of money will flow for so-called security measures.
Read the original article in Afrikaans on Die Vryburger
South Africa Today – South Africa News
