Tough economic conditions meant that 2022 was a rough year for people everywhere in the world and South Africa was no exception. 💰💵Poverty Economy LoadShedding Read more below ⬇️
But the country has been struggling to reach consensus on the way forward, a crucial step that’s needed before solutions can be found, as South African Reserve Bank governor Lesetja Kganyago pointed out in a major speech.
An analysis of expenditure on basic education, healthcare and the criminal justice system by Michael Sachs, Arabo K. Ewinyu and Olwethu Shedi shows that government’s fiscal consolidation path will reduce real spending on these core public services, further eroding their quality and reach. Outages have become regular occurrences which are estimated to cost the country’s economy about US$1 million an hour.
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