/ 29 October 2023

The Fiscal Cliff | Will austerity push South Africa to the brink?

New Finance Minister Enoch Godongwana Presents Mid Term Budget
Finance Minister Enoch Godongwana. (Dwayne Senior/Bloomberg via Getty Images)
Today, as the country awaits the next update on the state of its public purse, the prospect of a debt crisis seems more imminent than before. This is as South Africa’s fiscal position has deteriorated markedly during the course of this year, a dilemma that could see the treasury inflicting another round of spending cuts.

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