Investment and economic analysts hope to see the new finance minister prioritise policies that grow the economy and ease SA out of its tight, debt-heavy fiscal position.
According to Ackerman, the economy has rebounded more positively over the past year than had been expected, “or budgeted in the February national budget, partly thanks to the reopening of the global economy supporting strong exports from the local commodities and agricultural sectors”.
“What one hopes to see is whether the minister is going to be prudent and use this opportunity to ‘bank’ some of the benefits that we’ve seen, because we are still in a very tight fiscal position and, if we don’t get the economy going very soon, we might have some further fiscal challenges in the next two to three years,” Ackerman said.
They said this would mean removing any red tape that affects the ease of doing business, while still carefully managing policies that are intended to close SA’s inequality gap, such as social support, minimum wage, and the proposed National Health Insurance. “About 20% of SA’s tax revenue is already going to servicing debt, which is why the longer-term risk of a very bleak fiscal environment remains if we don’t strengthen the economy urgently and broaden the tax base.”
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
SA reacts to Miss SA equating calls to boycott pageant in Israel as ‘bullying’'You are sending a Black South African woman to represent SA on stage in an apartheid state. If you don't understand how tone deaf that is, then I don't even know what to say.'
Read more »
Dirco probing confrontation between purported Cuban officers, SA studentsThe department of international relations and co-operation (Dirco) says its working with relevant authorities to investigate a video circulating on social media purporting to show South African students in Cuba being confronted by men in uniform.
Read more »
Hope is not a strategy, says Jacko Maree as SA faces tough economic choicesSPONSORED | Jacko Maree, the Lifetime Achiever award winner at the 2020 Sunday Times Top 100 Companies Awards, assesses the state of SA’s economy ahead of the 2021 online awards ceremony this Thursday with BCXWorld. Want to attend? Register below.
Read more »
Covid-19 update: 305 new cases reported in SAAs of Wednesday, South Africa has recorded a total of 2.924,622 positive cases of Covid-19, with 305 new cases identified in the past 24 hours. This
Read more »
Covid-19: SA records 305 cases, 48 deaths in the past 24 hoursThere were only 305 new Covid-19 cases recorded across SA in the past 24 hours, the NICD said on Wednesday.
Read more »
Accountability is a myth in SADuring the local government elections we heard much about accountability, from political analysts who don’t understand the system.
Read more »