Deeper debt trap looms as all eyes turn to Tito

Budget will reveal if the savings needed to stabilise debt burden can be achieved

25 October 2020 - 00:10 By HILARY JOFFE

The government has been borrowing even more in the market than it planned for in June, with economists projecting its total borrowing requirement for the next three years could exceed R2-trillion, driving up the cost and pitching SA deeper into a debt trap.

Finance minister Tito Mboweni presents his medium-term budget policy statement (MTBPS) on Wednesday, when he is expected to provide an update on whether he can achieve the total R400bn of savings he said in June would be needed to stabilise the government's soaring debt burden over the next three years...

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