Mail & Guardian
Mail & Guardian
debt to gdplatest news & developments
The government is struggling to balance its books and generate sufficient revenue
2 VAT

Proposed 2% VAT hike indicative of a deep fiscal health crisis

The government is struggling to generate sufficient revenue development and deal with the country’s debt-to-GDP ratio

  • Siseko Maposa
3 min read
Reeling: Volunteers and workers clean up the looted Bara Mall in Soweto. The destruction and theft in the country is a more than R50-million blow to the already struggling economy. (Lucas Sola/AFP)
ALEXANDER FORBES

Violence sparks new calls for basic income grant

Analysts agree that economic relief for the poor is needed but are split on whether a grant should be permanent and whether it is affordable

  • Sarah Smit
8 min read
A member of the Durban Metro Police looks at a looted retail store in central Durban, on July 11, 2021. – Several shops are damaged and cars burnt in Durban, following a night of violence. Police are on the scene trying to control further protests. It is unclear if this is linked to sporadic protests following the incarceration of former president Jacob Zuma. (Photo by – / AFP)
ZUMAUNREST

Unrest’s economic hit is likely temporary, but risk of fiscal strain mounts — Fitch

The ratings agency warned that South Africa’s public finances could be affected if the government reacts to the riots by easing fiscal policy

  • Sarah Smit
3 min read