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However, the MTBPS relies even more heavily on getting powerful public-sector unions to agree to unprecedented wage freezes over the next three years, putting its credibility in…
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DOI: 10.1108/OXAN-DB257211
ISSN: 2633-304X
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Yet market sentiment remains sceptical of Pretoria’s ability to deliver on the package, implement steep and politically contentious expenditure cuts and boost growth. Meanwhile, a…
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DOI: 10.1108/OXAN-DB257441
ISSN: 2633-304X
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As a result of dwindling tax revenue, he also said that state spending would be cut by EUR10bn (USD10.8bn). The government’s forecast for this year is more optimistic than…
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DOI: 10.1108/OXAN-DB285767
ISSN: 2633-304X
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Rising consumer debt in Russia.
Macroeconomic prospects depend on whether Finance Minister Enoch Godongwana’s Medium-Term Budget Policy Statement (MTBPS) achieves traction with potentially hostile audiences…
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DOI: 10.1108/OXAN-DB283326
ISSN: 2633-304X
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However, cuts to the social grants budget and a continued focus on the planned three-year wage freeze for civil servants has annoyed (among others) the ruling ANC's ‘Tripartite…
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DOI: 10.1108/OXAN-DB259790
ISSN: 2633-304X
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Although the economy has rebounded, the exit from crisis mode will be complicated, not least because of a sudden increase in new COVID-19 cases in the second half of June.
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DOI: 10.1108/OXAN-DB262551
ISSN: 2633-304X
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Soon after taking office, President Mauricio Macri announced a "rain of new investments" from foreign companies attracted by the business-friendly tone set by his administration…
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DOI: 10.1108/OXAN-DB212198
ISSN: 2633-304X
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The difficulties of economic policy-making.
However, there are question marks over his ability to deliver on the ambitious spending cuts needed as tax collection falls in a weak economy.