SA faces an inevitable fiscal crisis because it will not be politically possible or desirable to impose the kind of budget adjustments envisaged by the Treasury, says former budget office head and Wits adjunct professor Michael Sachs.
If the authorities fail to arrest rising debt, the country will be unable to finance its budget deficit, resulting in a default on debt and interest payments.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
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