Our finance minister with years of experience is doing a great job bringing order to our fiscal system.
TRANSFER TO MINING NEWS IN THE INDEX ABOVE FOR THE LATEST ON GOLD AND PLATINUM
How ever as hard as he tries and he has succeeded in bringing almost every one on board even the major trade unions as they see the number of jobs declining due to circumstances world wide.
The major reason is of course that we remain a basic producer of metals and minerals. The demand for these has declined drastically and of course the needs of the poorer citizens have to be met to keep their body and souls alive!
Therefore I RELUCTANTLY forecast that we will be downgraded to junk status(i.e. non investment grade) ,likely this winter. We are held in such good stead that countries such as Brazil and Russia were downgraded a considerable time before us.
The good news is we are unlikely to be downgraded further and not if but when demand for commodities improve we are likely to be upgraded before many other countries of the world.
I hope we have learnt our lesson and in future keep strict fiscal discipline!
