SA Reserve Bank building in Pretoria.
South Africa’s strained public finances are hindering economic growth and a return to Lower Inflation, the country’s central bank cautioned on Tuesday.
"Reducing public debt to sustainable levels can deliver a triple dividend, namely Lower cost of capital, reduced debt-service costs and lower inflation," the South African Reserve Bank said in its six-monthly Monetary Policy Review.
The comments come ahead of a 1 November update on the nation’s budget outlook by Finance Minister Enoch Godongwana. He is expected to announce a large revenue shortfall and wider-than-expected budget deficit, aggravated by slower growth and weaker earnings from commodity exports.
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