Kganyago warns against locking in permanent spending off temporary boom
SA Reserve Bank governor Lesetja Kganyago has warned against locking in large spending commitments off the back of a commodities boom that has boosted the government’s financial position and aided the economic recovery, but that is by no means a lasting certainty.
Speaking at the release of the Bank’s latest monetary policy review on Tuesday, Kganyago said SA should “guard against complacency” that could see it committing to “expenditure outlays that we might not afford outside the rising commodity prices”. ..
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