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Assessing and promoting civil and minority rights in South Africa.

[Source: Huffington Post by Dawie Roodt.]

The state’s debt levels are at record highs. And, based on existing plans as per the medium-term budget policy statement, the state will continue to spend more.

I was called hysterical and irresponsible after I stated that people should take their money “out” of the country. It has always been my view that a properly diversified portfolio should include a significant exposure abroad. However, recent developments and worsening prospects for the country only stressed the need to create a nest egg outside of the country.

The single biggest participant in all economies is the state. In the case of South Africa (SA), state spending equals a third of gross domestic product (GDP) which excludes other forms of the “state” such as municipalities, the provinces and state-owned enterprises (SOEs). The state also employs more than 1-million civil servants at a significant expense.

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South Africa at a Glance
57 700 000 (mid 2018 estimate)
4.4% y/y in April 2019 (CPI) & +6.5 y/y in April 2019 (PPI)
-3.2% q/q (1st quarter of 2019)
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