Call for South Africa to overhaul its tax system, including a VAT hike.
Loading player...
South Africa should overhaul its tax regime to fund economic-growth enhancing reforms and reduce inequality now that it’s reached the limits of budget adjustments that were aimed at reducing fiscal deficits and reining in debt, the OECD recommended.
Africa’s most-industrialized economy is battling surging debt, which the government expects to peak at 75.1% of gross domestic product in the 2023 fiscal year, and its interest bill has been the fastest-growing expenditure line item in the budget since 2011.
Africa’s most-industrialized economy is battling surging debt, which the government expects to peak at 75.1% of gross domestic product in the 2023 fiscal year, and its interest bill has been the fastest-growing expenditure line item in the budget since 2011.
