The Finance Minister, Tito Mboweni, will on Wednesday afternoon deliver the most important budget speech in the history of South Africa.
The economy is dead and little has been done to revive it. Eskom has failed, as have many other State Owned Enterprises.
The big question is: How will Eskom be bailed out? Moody’s will be watching. The world will be watching. If there is not a solid plan for Eskom, Moody’s will more than likely downgrade us to junk status as well, and that would be a death knell for the country.
So, expect plenty of pain and suffering in this year’s Budget Speech. There will be little to no good news.
Protect the value of your money by stocking up on Gold and Silver Bullion.