South Africa's public finances are in a sorry state. In his supplementary budget on 24 June, Finance Minister Tito Mboweni revealed that government expenditure continues to grow and revenues have collapsed in the wake of the Covid-19 crisis.
As a consequence, the country's debt and deficit levels are set to rise to record levels.
David Ansara of the Centre For Risk Analysis explains the drivers of South Africa's looming fiscal crisis and the possible next steps for the country.
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The Centre For Risk Analysis is a think-tank based in Johannesburg specialising in political risk, economic policy and scenario planning. CRA subscribers gain access to a range of research products, online briefings, and political risk advisory services as part of their ongoing subscription.
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