Economists are optimistic about Finance Minister Godongwana’s upcoming budget but highlight challenges in debt stabilisation.
With just over a week left for Finance Minister Enoch Godongwana to table the government of national unity’s first medium-term budget policy statement , two leading economists expressed certainty about the market sentiment remaining positive.
Despite being upbeat about the outlook, Prof Raymond Parsons of the North-West University Business School and University of Johannesburg economics lecturer Dr Frederich Kirsten said stabilising the overall debt-to-GDP ratio remained a challenge.SA experiencing more than just ‘warm and fuzzy’ feeling over economic progress – RamaphosaParsons said the GNU has created “a great advantage of the reform momentum and now the apparent incipient economic recovery in SA”.
“A confidence-building MTBPS still needs to be based on a judicious mix of fiscal steps that project good fiscal governance, a credible three-year outlook and sound risk management by government.” Inflation, he added, would also be “a big talking point, due to it currently being below its 0.5% average”.
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