Why SA should amend the Constitution to enforce discipline in the fiscus
The government would enhance its image as a financially prudent entity that does not run the risk of defaulting on its debt or engaging in extensive QE that crowds out private investment
07 June 2021 - 14:22
In the first of this two-part series a short overview was given of foreign constitutions that have enshrined fiscal rules, with specific emphasis on the Spanish constitution, and why SA should seriously consider amending the Constitution to enforce discipline within the fiscus.
It would be advisable that the following elements are covered by a constitutional amendment: balanced budgets across the board; capping debt; and implementing expenditure reviews...
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