Webinar: Economic Affairs Business Forum – 16 July 2020
About this Event
Presentation: South African businesses must choose whether they are part of the problem or part of the solution to our economic challenges.
Presented by Professor Bonke Dumisa, Independent Economic Analyst.
The Supplementary Budget Speech 2020, presented by the Minister of Finance Tito Mboweni, on 24 June 2020, made it absolutely quite clear that the South African economy is deep inside the intensive care unit (ICU). The government currently has a gross national debt at over R4 trillion, which equals 81.8 percent of our GDP. The South African government is paying at least 21 cents just to service interest per every Rand they pay. The South African Revenue Services, SARS, predicts under-collecting by up to R300 billion this financial year. The government predicts a budget deficit of R761.7 billion; and our Debt-to-GDP levels are at precariously high levels. The three international credit rating agencies, namely, Standard & Poor’s, Fitch, and Moody’s, are watching South Africa like Hawks to see if we are able to manage our country’s uncomfortable high levels of the sovereign debt levels.
Date: 16 July 2020
Time: 10:00 am – 11:00 am
RSVPs close on 15 July 2020 at 11:00 am.
Once you have RSVP’d for the webinar, a calendar invite will be sent to you the day before the event (15 July 2020) with the unique webinar link.
For further information, please contact Bharriey Pillay.