During his Mid-term Budget Speech yesterday, South Africa Minister of Finance Tito Mboweni said the government’s revised fiscal framework puts the country on a course to stabilise its debt to GDP ratio to 95-percent within the next five years. This means the stock of gross debt will rise from 4 trillion this to 5.5 trillion Rand in 2023/24. Meanwhile SA’s GDP is expected to contract 7,1-percent while the economy is expected to grow by 3.3-percent in 2021, 1.7-percent in 2022, and 1.5-percent in 2023, something Mboweni says can be attributed to job losses due to Covid-19.