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Covid-19 has exacerbated SA’s growth, fiscal vulnerabilities – IMF

Adding that power cuts by state-owned utility Eskom will likely worsen the situation.
Image: Bloomberg

The coronavirus pandemic has worsened South Africa’s economic growth and fiscal vulnerabilities, the International Monetary Fund (IMF) said on Wednesday, adding that power cuts by state-owned utility Eskom will likely worsen the situation.

“Reining in large fiscal deficits and debt will require containing public wage bill and avoiding ill-targeted subsidies and transfers to inefficient state-owned enterprises,” the IMF said in a statement.

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Wow — Really — You don’t say hey !!

The ANC makes COVID-19 look like a grain of rice when it comes to economic destruction.

Wrong. Covid did little. The stupid lockdowns finished the economy.

Now wealth taxes, EWC and BEE and new Eskom tariffs will do the rest

End of comments.

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