South Africa should be wary of making large spending commitments. Reserve Bank Governor, Lesetja Kganyago, says this is a temptation given the boom in the commodity market. However, he warns the boom will not last forever. He says the climb is already starting to slow.
Commodity prices rose sharply late last year, boosting mining firms’ profits and tax payments. It gave the fiscus breathing space, with some calling for a Basic Income Grant to be instituted.
Kganyago, however, warns that decisions that seem good today may burden future generations.
Source: eNCA
In other news – Idols SA winner Zama Khumalo announce release date for her debut album
Zama Khumalo’s debut album has been moved forward as her record label, Kalawa Jazmee took to social media to explain the reason behind the delay.
The star was expected to drop the album in September but a new release date has been given. With a set release date given, fans are now overly excited and cannot wait for the day to finally arrive. Learn more
