2 minute read
3 Oct 2019
6:35 am

The ANC stands at a critical fiscal crossroads

An organisation steeped in the principles of socialism and workers’ rights must now confront the reality that, financially, this country is in deep trouble.

Finance Minister Tito Mboweni. Picture: ANA

It is not exaggerating the current political and economic situation in South Africa to say that the ANC stands at one of the most critical crossroads in its history. An organisation which is steeped in the principles of socialism and workers’ rights must now confront the reality that, financially, this country is in deep trouble … the sort of trouble which requires harsh fiscal medicine of the type the organisation has resisted for most of its existence. State-owned enterprises (SOEs) are in a mess and sucking up billions of rands a day in their struggle to keep afloat. With declining...