Deloitte warns South Africa must establish sustainable debt practices to improve financial stability

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Deloitte warns South Africa must establish sustai .. ble debt practices to improve financial stability

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Deloitte warns South Africa must establish sustainable debt practices to improve financial stability

//business-finance.news-articles.net/content/202 .. bt-practices-to-improve-financial-stability.html

Published in Business and Finance on Tuesday, February 11th 2025 at 1:20 GMT by MSN
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

The budget is expected to focus on tax reforms, sustainable development, job creation, healthcare funding, infrastructure investments, and support for agriculture.

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The article from MSN, discussing a report by Deloitte, warns that South Africa must urgently establish sustainable debt practices to enhance its financial stability. Deloitte highlights that the country's public debt has escalated significantly, reaching 72.7% of GDP in 2023, up from 63.3% in 2019, driven by increased borrowing to fund government operations and economic recovery efforts post-COVID-19. The report emphasizes the need for fiscal discipline, suggesting that without implementing sustainable debt management, South Africa risks further economic instability, potential credit rating downgrades, and increased borrowing costs. Deloitte recommends measures like improving tax collection, reducing expenditure, and enhancing economic growth to manage and reduce the debt burden effectively.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/money/economy/deloitte-warns-south-africa-must-establish-sustainable-debt-practices-to-improve-financial-stability/ar-AA1yNjJ3 ]