Tito Mboweni will deliver the budget next week. It is all but a done deal now. While considerable attention has been paid to the “zero-based” approach the budget office might pursue, many of us undoubtedly expect the budget to be a statement of fiscal consolidation and restraint amid unprecedented crisis.

The constrained macro-fiscal environment compels policymakers to consider how non-transfer sources of financing can fund catalytic and necessary social and economic infrastructure at a district level — to improve the long-run growth potential of these areas as a critical feature of the “third phase” of the recovery...

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