Zuko Godlimpi’s article refers (“There is a lot of work to do after the budget”, March 10).
Two budgets should have been considered on Wednesday, a static version based on current market conditions and projections to achieve stability and appease investor concerns, and a dynamic version that considered extremes such as the suspension of the African Growth & Opportunity Act; 25%-plus blanket US tariffs owing to our association with the Brics bloc; possible sanctions as a result of negative perceptions regarding the implementation of the Expropriation Act; world war, which may raise inflation and disrupt global trade; and an exponential and sudden increase in population, supplemented by a high influx of illegal immigration that is misaligned with GDP growth.
The extremes need to be considered so that potential safety nets can be explored in a proactive manner. Based on the fiscal situation, where almost R1-trillion is allocated for wages, external shocks may plunge the country into social unrest that would take decades to recover from.
Phuthela Myeni
Via BusinessLIVE
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