How credible is President Ramaphosa's economic recovery plan?
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The president spoke about building a new economy on Thursday in the wake of Covid 19. It's important to bare in mind the most important change from pre-COVID-19 SA, was a lockdown-induced tax collapse of R304billion. Additional funding from the World Bank and other international financial institutions only amounted to about R80 billion in additional resources, not close to the tax revenue deficit. The precarious balance between the proverbial "rock" of procyclical fiscal policy and the "hard place" of debt unsustainability is a difficult one to strike.
Did the president strike that balance? Michael Avery talks Busi Mavuso, Chief Executive Officer of Business Leadership South African and Board Member of Eskom; Duma Gqubule who is an economist and founder of KIO Advisory Services and Hugo Pienaar the Chief Economist at the Bureau for Economic Research
Did the president strike that balance? Michael Avery talks Busi Mavuso, Chief Executive Officer of Business Leadership South African and Board Member of Eskom; Duma Gqubule who is an economist and founder of KIO Advisory Services and Hugo Pienaar the Chief Economist at the Bureau for Economic Research
