The expected increase in the fuel price will have a knock-on effect.
SOUTH Africans can expect troubled times following the country’s recent credit downgrade to ‘junk status’.
According to a statement by Neil Roets, CEO of debt counselling firm Debt Rescue, the fuel price is expected to increase by more than 40 cents a litre in May.
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This will result in a price increase of many other services and products, including food. And with foreign investors withdrawing from South Africa, the fuel price is only the first of many prices that are expected to increase.
Mr Roets advises South Africans to begin budgeting and to avoid high interest credit cards and loans as it would be detrimental to those already in debt.