SA still heading for a fiscal cliff, warns investment bank
Bank of America Securities says debt levels remain on an unsustainable trajectory despite government’s ambitions
15 July 2020 - 20:23
SA’s debt levels are going to remain on an “unsustainable path” despite the government’s intentions to cut spending, Bank of America Securities said on Wednesday.
A “lack of policy co-ordination, tax revenue shortfalls and very high execution risks” mean government is unlikely to achieve the ambitious spending cuts outlined in the recent supplementary budget, the investment bank’s SA economist, Rukayat Yusuf, said...
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