SA’s finances are in bad shape. It’s running out of time to fix them

of revenue collection and public finances more broadly, is being laid at the door of Ramaphosa’s presidency. That is simply implausible.

Understanding why such claims are likely to be wrong is important not just because of attributing blame, but in order to understand what the fundamental drivers are behind the country’s current state and future trajectory.Unfortunately, beyond blame, much of the policy discussion is characterised by recycled disagreements. These date to the era in which the African National Congress government adopted the strategy – which was opposed and resented by left-wing parts of the ANC alliance.

Second, increasing government expenditure in the manner proposed is, at best, a very high risk strategy. With the country’s public finances already under strain, an increase in expenditure that does not deliver significant increases in economic growth and tax collection will lead to a dramatic deterioration in public finances. That could cause harm for generations to come.

NHI

Carl_CE50 That's not news. We all know that

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