Macro Fiscal Review: Reflections on public finances ahead of the 2024 Budget Review

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dc.contributor.authorAmra, Rashaad
dc.contributor.authorSachs, Michael
dc.contributor.authorWillcox, Owen
dc.contributor.authorMadonko, Thokozile
dc.date.accessioned2024-02-13T14:45:36Z
dc.date.available2024-02-13T14:45:36Z
dc.date.issued2024-02
dc.departmentSouthern Centre for Inequality Studies (SCIS)
dc.description.abstractThis 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.
dc.description.librarianTM2024
dc.description.sponsorshipPublic Economy Project
dc.description.sponsorshipUniversity of the Witwatersrand
dc.description.sponsorshipSouthern Centre for Inequality Studies (SCIS)
dc.facultyFaculty of Commerce, Law and Management
dc.identifier.citationAmra, R, Sachs, M, Willcox, O, Madonko, T. , 2024. Macro Fiscal Review: Reflections on public finances ahead of the 2024 Budget Review. Public Economy Project. SCIS Policy Note, Number 65.
dc.identifier.urihttps://hdl.handle.net/10539/37611
dc.language.isoen
dc.publisherSouthern Centre for Inequality Studies (SCIS)
dc.publisherUniversity of the Witwatersrand, Johannesburg
dc.relation.ispartofseriesPublic Economy Project Policy Note; 65
dc.rightsAuthor(s) retain the right to self-archive the final published version or parts of it on an author’s personal website or a not for profit server or repository associated with the institution that employs the author(s).
dc.rights©2024 Southern Centre for Inequality Studies (SCIS)
dc.schoolSouthern Centre for Inequality Studies (SCIS)
dc.subjectFiscal Policy
dc.subjectSouth Africa
dc.subjectDebt
dc.subjectFiscal Consolidation
dc.subjectEconomy
dc.subjectMTBPS
dc.subjectPublic Economy Project
dc.subject.otherSDG-8: Decent work and economic growth
dc.titleMacro Fiscal Review: Reflections on public finances ahead of the 2024 Budget Review
dc.typeWorking Paper
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