BRIAN KANTOR: Fiscal perceptions are a different reality for the US and SA
21 January 2022 - 05:00
Fiscal and monetary policy in the US and SA will command close attention in 2022. The US will be expected to adjust to the success it has had overcoming the Covid-19 threat to its economy, which has led to excess in the form of higher inflation.
Larger fiscal deficits that approached 16% of GDP in late 2020 were incurred to supplement incomes, with cheques drawn on the treasury causing the federal debt-to-GDP ratio rise to 128%. Consequently, the ratio of money (bank deposits) to incomes (GDP) is now 25% higher than before Covid...
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