Reserve Bank deputy governor Kuben Naidoo defended the state’s plans to steer away from an “unsustainable debt spiral” by reducing spending and lowering its debt and deficit levels in the coming years.

In an opinion piece carried by Business Day (https://www.businesslive.co.za/bd/opinion/2020-07-07-kuben-naidoo-sa-has-to-reduce-the-deficit--and-that-is-what-the-budget-does/), the former head of the Treasury’s budget office argues that unless SA sets “out a clear and realistic path for reducing the deficit”, its access to capital markets will become more limited and more costly.

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