Running towards a fiscal cliff with no parachute

Good Governance Africa argues that South Africa's budget speech ignores critical fiscal threats, including ballooning debt, a shrinking tax base, and extreme unemployment. The author criticizes the lack of a clear plan for private sector job creation and the insufficient attention given to climate change and the energy transition, specifically regarding the retirement of coal plants and the development of renewables.

• South Africa faces severe fiscal instability characterized by growing debt, a shrinking tax base, rising unemployment, and an increasing public sector wage bill, which the author describes as "cancerous" relative to the tax base.
• The official unemployment rate in South Africa has surpassed the highest rate recorded by any country during the Great Depression (approximately 33%), with youth unemployment approaching 70%.
• The budget speech provided minimal detail on addressing climate change, South Africa's carbon emission commitments, the slow progress of renewable energy development, or the schedule for retiring coal-fired power plants.
• Corruption and incompetence are leading to wasteful expenditure that destroys essential infrastructure, such as water and sanitation, and undermines investment potential.

APA

Africa, G. G. (2022). Running towards a fiscal cliff with no parachute. Good Governance Africa. https://gga.org/running-towards-a-fiscal-cliff-with-no-parachute/

Chicago

Africa, Good Governance. Running towards a fiscal cliff with no parachute. Good Governance Africa, 2022. https://gga.org/running-towards-a-fiscal-cliff-with-no-parachute/.

Wikipedia

{{cite press release |last1=Africa |first1=Good Governance |title=Running towards a fiscal cliff with no parachute |publisher=Good Governance Africa |date=24 February 2022 |url=https://gga.org/running-towards-a-fiscal-cliff-with-no-parachute/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@misc{africa2022running, author = {Africa, Good Governance}, title = {{Running towards a fiscal cliff with no parachute}}, publisher = {Good Governance Africa}, year = {2022}, month = feb, url = {https://gga.org/running-towards-a-fiscal-cliff-with-no-parachute/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }