Austerity Without Consolidation: Fiscal policy and spending choices in Budget 2023

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dc.article.end-page33
dc.article.start-page1
dc.contributor.authorSachs, Michael
dc.contributor.authorAmra, Rashaad
dc.contributor.authorMadonko, Thokozile
dc.contributor.authorWillcox, Owen
dc.date.accessioned2023-07-18T09:57:55Z
dc.date.available2023-07-18T09:57:55Z
dc.date.issued2023-06-01
dc.departmentSouthern Centre for Inequality Studies (SCIS)
dc.description.abstractFiscal 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.
dc.description.librarianTM2023
dc.description.sponsorshipPublic Economy Project
dc.description.sponsorshipUniversity of the Witwatersrand
dc.description.sponsorshipSouthern Centre for Inequality Studies (SCIS)
dc.identifier.citationSachs, M., Amra, R., Madonko, T., Willcox, O. 2023 Austerity Without Consolidation: Fiscal policy and spending choices in Budget 2023. Public Economy Project. SCIS Working Paper| Number 60
dc.identifier.urihttps://hdl.handle.net/10539/35683
dc.language.isoen
dc.orcid.id0009-0000-7062-5653
dc.orcid.id0000-0003-0340-0600
dc.publisherSouthern Centre for Inequality Studies (SCIS)
dc.publisherUniversity of the Witwatersrand, Johannesburg
dc.relation.ispartofseriesSouthern Centre for Inequality Studies (SCIS) Working Paper; 60
dc.rights©2023 Southern Centre for Inequality Studies (SCIS)
dc.schoolSouthern Centre for Inequality Studies (SCIS)
dc.subjectAusterity
dc.subjectFiscal policy
dc.subjectSpending choices in Budget 2023
dc.subjectPublic Economy
dc.titleAusterity Without Consolidation: Fiscal policy and spending choices in Budget 2023
dc.title.alternativeSpending Choices 2023
dc.typeWorking Paper
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