In a recent interview on Newzroom Afrika, Annaline van der Poel from Debt Rescue discussed the upcoming mid-term budget policy statement by Finance Minister Enoch Godongwana. While the South African economy has shown some positive movement, with the rand strengthening, many households still face financial strain.
Budget’s Role in Food Price Relief
Annaline outlined key areas that could help relieve the pressure on consumers, with food security and economic growth being top priorities. Stabilising food prices is essential, as investigations show that prices haven’t decreased in line with inflation. Infrastructure improvements are also needed, especially in transport, to foster investor confidence and job creation, which can aid in reducing poverty. She also pointed out that South Africa’s greylisting impacts foreign investment, which could otherwise help to address high unemployment rates.
Household Debt and Cost-of-Living Challenges
With many South Africans turning to credit just to manage food and basic expenses, Annaline stressed the importance of reducing reliance on debt. For those deeply over-indebted, Annaline explains that the National Credit Act serves as a crucial support system, empowering individuals to manage their debt more sustainably and break free from the cycle of debt.
Watch the full interview with Annaline van der Poel on Newzroom Afrika
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