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Mini budget in a nutshell: Mboweni's plans to navigate SA through Covid-19 storm

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Tito Mboweni (right) arrives in Parliament.
Tito Mboweni (right) arrives in Parliament.
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Snapshot: National Treasury plans to follow a five-year fiscal consolidation path to narrow the budget deficit and stabilise government debt. 

The reality: Compared to the 2008 global financial crisis, South Africa's fiscus is in a far worse position as South Africa now tries to navigate past the effects of the Covid-19 crisis, Finance Minister Tito Mboweni has said.

In quotes: "Debt levels will become unsustainable without fiscal consolidation. Long-term debt redemptions will average about R134.4 billion over the next decade, up from an average of R37.3 billion in the previous 10 years," said Mboweni.

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