Browsing by Author "Madonko, Thokozile"

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    Austerity Without Consolidation: Fiscal policy and spending choices in Budget 2023
    (Southern Centre for Inequality Studies (SCIS), 2023-06-01) Sachs, Michael; Amra, Rashaad; Madonko, Thokozile; Willcox, Owen
    Fiscal policy can play a crucial role in fostering growth and development by ensuring the sustainable delivery of essential public services. Managed effectively, government’s budget can help us build a common society and overcome the segregation and inequality of the past, without which sustained economic growth seems unlikely. It can also respond to temporary macroeconomic shocks to aggregate demand and livelihoods. South Africa however finds itself in a worsening fiscal impasse. There is continuous austerity, dating back more than a decade, but South Africa appears no closer to achieving fiscal consolidation. This position is steadily eroding the fiscal capabilities necessary for the state to realise the potential that fiscal action offers. Instead, the budget is increasingly becoming a drag on development.
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    Financial Directions and Budget Trends in Government Healthcare
    (Southern Centre for Inequality Studies (SCIS), 2023-11) Sachs, Michael; Abdullah, Fareed; Madonko, Thokozile; Jonas, Kim; Slingers, Nevilene; Zvawada, Tanaka; Ewinyu, Arabo; Shedi, Olwethu
    This working paper provides evidence and analysis that can assist in taking forward the agenda of the Presidential Health Compact. It does so by reviewing the financial performance of the government healthcare system over the last decade. After assessing the financial management performance, it looks at the “financial health” challenges facing the system, including the problems of accruals and medico-legal claims. The report then examines the budget pressures faced by provincial healthcare departments, as well as the different allocation of resources and levels of care across provinces. It ends with a conclusion and tentative reflections informed by the evidence.
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    Macro Fiscal Review: Reflections on public finances ahead of the 2024 Budget Review
    (Southern Centre for Inequality Studies (SCIS), 2024-02) Amra, Rashaad; Sachs, Michael; Willcox, Owen; Madonko, Thokozile
    This policy note, published before the 2024 Budget Review tabling, reviews global and domestic economic developments and fiscal developments since the 2023 Budget Review and Medium-Term Budget Policy Statement (MTBPS) were tabled. It considers the implications of these developments for public finances and the realisation of the state’s socioeconomic goals. This note discusses emerging expenditure pressures observed in the recent period, which would warrant government to consider in its formulation of the upcoming budget. It assesses government’s key fiscal projections presented in the 2023 MTBPS and Budget Review. And it presents the Public Economy Project’s own updated outlook for public finances – it incorporates updated economic and fiscal data, and adjusted expenditure assumptions. It further discusses the limitations of government’s current approach to fiscal policy, and presents possible adjustments that would allow for a more equitable and sustainable path for public finances.