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Budget's reserve account withdrawal reflects failure of the Treasury

The most unusual element of this year’s National budget also illustrates the National Treasury’s failed approach to budget policy and its unwillingness to leverage the budget as a vehicle for growth, employment and development, writes Gilad Isaacs.

South-africa , National-treasury , World-war , Sunday-times , Comment-policy , R100bn , Gfecra , Foreign-exchange-contingency-reserve-account , St2502gilad , Isaacs , Reserve-bank