Current Project
Fiscal Futures
As a contribution to the debate about economic policy making after the Covid shock, Economic Research Southern Africa (ERSA) presented a series of conversations about how we think about the economy and the role of fiscal policy. After the initial shock and the short-term welfare response from the state, what is the role of the state and fiscal policy in supporting an economic recovery? The anatomy of fiscal collapse is well understood, and the South African path is beginning to look like one that has been trodden by other countries such as Argentina, Venezuela, and Zimbabwe. In this four-part series, experts present their views and discuss amongst themselves how to best manage the contribution of fiscal policy to development after the Covid shock.
As we continue to promote the discussion and development of economic policy in Southern Africa, we support the Brookings Institution in disseminating their flagship Foresight Africa 2023 Report. As 2023 begins, economic prospects for the global economy remain fragile, with considerable down-side risks. Even before the Covid pandemic, many African countries have been struggling to achieve sustainable and inclusive growth while burdened with rising public debt levels, poor infrastructure, jobless growth, and high inequality.
Looking forward, Africa’s recovery is further threatened by multiple crises and a precarious external environment. The war in Ukraine and global surge in inflation have ripped open the scars of the pandemic—putting historic pressure on food, fuel, and fertilizer prices. The uneven recovery from the COVID-19 pandemic continues to feature in headlines across Africa and elsewhere. Fragility in parts of the continent and adverse weather conditions are also key concerns.
These and other challenges make it easy to generalize pessimism about Africa’s growth prospects. While these challenges are real and require dedicated effort by many African states, there also remain important opportunities for growth and development in Africa. As African states look to overcome their challenges and embrace new opportunities, we invite you to join a conversation about Africa’s development prospects.
Brookings Institution's Flagship Foresight Africa 2023 was written by over 60 distinguished authors from around the world, including academics, policy makers and the Mayor of Cape Town. It highlights seven key areas of focus this year:
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