Tag: fiscal deficit

Social influencers in South Africa must declare all income, including non-monetary compensation, as clarified by the South African Revenue Service (SARS)! On 5 September 2025, SARS issued a media release. It stated its zero-tolerance position regarding social influencers and undeclared income.

The charts below, and others like them, are frequently used online and in presentations by economist and author Stephanie Kelton. She uses them to support the Modern Monetary Theory (MMT) claim that, contrary to conventional wisdom, government deficits are not harmful. Instead, she argues they represent a gain to the economy.

During the years of Cyril Ramaphosa’s presidency South Africans have understandably become a tad cynical when his annual State of the Nation (SONA) takes place. Typically filled with big promises, his presidency is likely to be remembered for under-delivery.

South African Finance Minister Enoch Godongwana tabled the 25th Medium-Term Budget Policy Statement today, where he emphasised the budget’s focus on navigating the country’s path toward an economic and social recovery.

Lebanon is facing a financial meltdown so severe that the World Bank has branded it as one of the worst since the mid-19th century. The country is fast spiralling into a dangerous situation of state failure, marked by violent riots, escalating blackouts and spiking fuel price increases.

Despite perceiving the overall risks to CPI as on the upside, all five members of the Monetary Policy Committee (MPC) decided to keep the repo rate unchanged at 3.5%. The repo rate has been on this level since 23 July 2020.

Budget statements have in recent years perennially made downward revisions in economic growth projections. Disappointing growth outcomes compared to official forecasts is partly attributed to the inability to implement planned structural reforms that would have delivered improved growth outcomes.