South Africa’s ZAR500bn Fiscal Bazooka Risks “Chasing a Growing Hole”

South African President Cyril Ramaphosa unveiled a ZAR500bn (approx. USD26.5bn) fiscal support package this week in a bid to help ease some of the economic pressures caused by the spread of COVID-19 and the lockdown designed to contain it. Analysts say South Africa, which was already in a precarious fiscal position before the lockdown began, was right to jump off the fiscal cliff – but now risks “chasing a growing hole.”

Apr 22, 2020 // 12:00AM

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