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Moody’s says lower deficits in SA budget won’t prevent debt rising

Adding that downside risks remained elevated.
Image: Ramin Talaie/Bloomberg

The lower deficits unveiled in South Africa’s budget this week are unlikely to prevent debt from rising, ratings agency Moody’s said in a research report sent to reporters on Friday, adding that downside risks remained elevated.

“Risks remain elevated that the government’s debt burden and affordability deteriorate significantly more rapidly than our baseline,” Moody’s said.

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In short-avoid investing in the socialist paradise of the land of frog-boilers. We all know the facts-we are broke, the Guptas and the Emperor of Nkandla got away with everything as did their dying comrade Shaik, SOEs are broke, Unemployment has never been higher, the judiciary has been captured and there is no economic growth.

And the sheep voted for this in 1994,1999, 2004, 2009, 2014 and 2019!
Do they deserve better?

Flee the place if you can!

End of comments.

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