Neil Roets, CEO of Debt Rescue, has warned that South Africans are in a dire financial crisis, with little relief in sight.
“The scenario is grim for the man on the street and has been since the Covid-19 pandemic decimated the economy five years ago. With the dawning of each new year, things get worse for hardworking citizens who pay their taxes and fund the coffers of government.”
Roets said that the average household income can no longer keep up with the relentless rise in the cost of living. Unemployment has soared to an all-time high, and the youth employment crisis remains a ticking time bomb.
“By far the most distressing issue is hunger and malnutrition, especially among our children. Yet escalating food costs have become the ‘new normal’, placing three decent meals a day beyond the reach of two-thirds of the nation’s citizens.”
The reality is that 64 million South Africans are directly affected by the economic crisis.
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