In this episode of Podcasts from the Edge, former National Treasury budget officer director Prof Michael Sachs tells Peter Bruce he doesn’t expect finance minister Tito Mboweni to announce tax increases in the budget later this month.
Not in the middle of a crisis and not with a resumption in private sector investment the last hope for growth still standing. And because our debt is rand denominated, ours is not going to be a classic developing country fiscal crisis. We are not Argentina and we don’t need dollars and the IMF can’t really help. “It is going to be messy,” says Sachs, “if we end up having to have crisis negotiations among ourselves.”..
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