Johan Fourie | What SA can learn from Jamaica's debt decline
Jamaica cut its debt from 144% of GDP in 2012 to 72% in 2023 despite averaging annual real growth of only 0.75% over the period. It did so despite a Covid-19 pandemic that disrupted tourism and mandated exceptional increases in public spending
"Debt-service costs," said Minister Enoch Godongwana during his 2024 Budget Speech,"will absorb more than 20% of revenue." To put this into perspective, spending on debt-service costs is greater than the respective budgets for social protection, health, or peace and security. We're paying interest through our noses.South Africans need to be in the know if we want to create a prosperous future. News24 has kept the country informed for 25 years, and we're about to enter a new chapter of fearless journalism.
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