SA’s debt levels are going to remain on an “unsustainable path” despite the government’s intentions to cut spending, Bank of America Securities said on Wednesday.
A “lack of policy co-ordination, tax revenue shortfalls and very high execution risks” mean government is unlikely to achieve the ambitious spending cuts outlined in the recent supplementary budget, the investment bank’s SA economist, Rukayat Yusuf, said.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 Times Select.
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