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‘Both directions at once’: fiscal policy in South Africa

Michael Sachs


Michael Sachs investigates the inconsistency of government fiscal policy, which lies in its attempts, on the one hand, to stabilise public debt by constraining expenditure, while on the other hand, showing unwillingness to reduce publicly financed consumption. While this contradiction is being played out, new policy initiatives are announced, often without clear consideration of the resource implications.

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print ISSN: 1607-2820