Part 2: Financing the budget in the post-Corona world | Economic Research Southern Africa

Part 2: Financing the budget in the post-Corona world

26 August 2020

Brian Kantor, Matthew Simmonds, Xavier Debrun, Tshepiso Moahloli, Owen Willcox, Mamokete Lijane, Lucio Castro, Ian Stuart

Economic theme: Growth, Development & Structural Constraints, Macroeconomic Policy Coordination, Public Finance

Event type: Dialogue

Keyword: Banking Regulation, budget, COVID-19, Development, economic growth, Financial Markets, fiscal policy, government revenue, Government spending, Inflation, Monetary Policy, Other Macroeconomic Variables, Policy, political economy, productivity, Public Utility, Regulation, South Africa

JEL Code: E40, E43, E52, F34, G1, H12, H20, H63, H68, O12, O19, O23, O4

Location: Online

Matthew delves into what financing the budget deficit in the post-Corona world means. Unprecedented deficits and debt levels are both the result of structural and COVID crisis related factors. Financing the budget deficit over the next few years poses a challenge that we have not faced in the democratic era, and raises a number of questions and concerns about sustainability and macroeconomic impacts:

Are the public finances facing a financing crunch?
How can the financing requirement be met?
What are the opportunities and limits of QE by the SARB?
Will we need more funding from the IMF?
What will the role of QE in advanced countries be?

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