Sipho Mabena
Premium Journalist
2 minute read
24 Feb 2021
5:51 pm

Budget 2021: Fiscal discipline being used as excuse for abdication of duties – Economist

Sipho Mabena

"It is a shameful abdication of duties, making this government one of the most irresponsible on earth, all in the name of fiscal discipline"

With millions out of work, Mboweni faces an uphill battle to balance the budget and revitalise the economy. Picture: Tracy Lee Stark

The cost-containment measures announced by finance minister Tito Mboweni was unprecedented and worse even than in 1998, Patrick Bond, according to professor at the University of the Western Cape School of Government. Bond said the oft-touted R500 billion fiscal stimulus has now clearly been unveiled as a fib and that from R1.486 trillion in 2019-20, the 2020-21 spending (on non-interest items) would have been R1.535 billion had it simply kept up with inflation of 3.3% this past year. Also Read: Budget 2021: What wasn’t said was the best and biggest news Bond said the actual spending was R1.571 trillion, which he...