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SA's fiscal cliff remains a clear and present danger

SA s fiscal cliff remains a clear and present danger - experts
Dr Fanie Joubert said the Fiscal Cliff Study Group had been tracking the figures since 2007 when the civil service wage bill, social grant payments, and interest on government debt amounted to about 55% of state revenue.
Picture: 123rf
23 days ago
CAPE TOWN - A lower than expected shortfall in revenue has pulled South Africa back from the brink, but the fiscal cliff remains a clear and present danger.
That’s the view of the Fiscal Cliff Study Group, which defines the fiscal cliff as the point where public servants’ wages, social grant payments, and debt-service costs absorb 100% of the government’s revenue. ....

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Civil society organisations condemn Mboweni's 'suga...

When Tito Mboweni stood before Parliament to present the annual Budget on Wednesday, he made a point of repeatedly stressing that this was not an austerity Budget whilst misrepresenting some of his critics who he suggested thought that South Africa was “swimming in cash”. However, civil society had the last laugh.
In a statement issued by a group of 15 social movements and NGOs, including Right2Know and Abahlali baseMjondolo they riposte, “A finance minister should be ‘economically minded’, but he should not be economical with the facts!”
Their analysis of the facts in the Budget Review lead them to allege that “the ANC and the finance minister have turned against their own people”, zooming in particularly on the Budget’s plans for basic education and health which are anything but expansionary. ....

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