If you’re on the Left, or trying to score quick political points, then President Cyril Ramaphosa is imposing a harsh period of fiscal austerity on South Africa. If you’re in the sensible middle, he is doing nothing of the sort. South Africa is already spending more than it earns, as our constant budget deficit proves. Listen as Peter Bruceasks his favourite economist, Thabi Leoko, why she responded so sharply last month to suggestions from former Goldman Sachs SA chief Colin Coleman that over and above current deficit spending, much more was required in order to stimulate the economy back into growth….
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