Six million can’t pay their debts
Experts told The Times that the economic “perfect storm” — high inflation, including food and fuel, and the resultant interest rate hikes — have driven six million South Africans to the brink.
Rajeen Devpruth, manager of statistics and research at the National Credit Regulator, said that by the end of last year, 6.3 million South Africans had “impaired credit records”, which means their payments were more than three months in arrears or judgment had been obtained against them for outstanding payments.
That’s half of the 13 306 000 South Africans currently employed, according to the latest Labour Force Survey in September 2007.
2 comments:
Yup, this is really sad. Here is another article on Fin24 about it:
http://www.fin24.co.za/articles/default/display_article.aspx?Nav=ns&ArticleID=1518-1796_2378305
the country is going to be in serious trouble and we are going to see the crimes rise very fast as people will have to rob to be able to eat or simply stay alive!
Post a Comment