Core services shrinkage in budget will harm the poor, MPs told
Civil society organisations criticise what they say is an austerity budget
01 March 2023 - 16:59
The “shock” contraction in government consumption spending in 2023/2024 is the largest ever in a single year, Wits University adjunct professor Michael Sachs says.
Non-interest government spending will fall dramatically from 25.5% of GDP in 2022 to 24.1% in 2023. Government consumption spending represents about 20% of GDP, so any reduction affects economic growth...
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