While structurally looser fiscal policy in SA has contributed to prevailing financial constraints, it is the ballooning cost of debt is the biggest cause for concern, says Mamello Matikinca-Ngwenya.
South Africa’s fiscal woes have been unfolding for over a decade and the government has been running fiscal deficits and adding to its debt stock since the Global Financial Crisis (GFC). This has been progressing for so long that one could have forgotten a time when our government was living within its means.