SOUTH AFRICA: Mboweni promises wage bill cuts, but can he deliver?
The key concession to credit ratings agencies in Finance Minister Tito Mboweni’s 26 February budget presentation was his promise to reduce South Africa’s wage bill by ZAR 160.2bn over three years. However, it is not clear if the government can deliver and if the plan can b… Become a member to read the rest […]
GERMANY: False debt-brake alert (again)
Proposals from Finance Minister Olaf Scholz to temporarily suspend the country’s constitutional debt brake have been greeted with the usual excitement that tends to surround speculation about German fiscal expansion. Among those who quickly came out in favor of the idea… Become a member to read the rest of this article
SLOVAKIA: Election will bring more political fragmentation and volatility
The general elections taking place this Saturday, 29 February, will see a close fight between the ruling SMER-Social Democracy (SMER) party and the opposition Ordinary People (OLaNO) party. Regardless of the winner, SMER’s position in parliament will be significantly weakened, th… Become a member to read the rest of this article
CHINA: Xi seeks to balance epidemic containment with economic growth
New COVID-19 infections in mainland China are declining, but the economy is still operating far below capacity. President Xi Jinping said China should achieve its full-year GDP growth target despite the epidemic, implying heavy stimulus. Early stimulus measures are focused on t… Become a member to read the rest of this article
Chart of the month – UK long run productivity growth has collapsed – February 2020
UK labour productivity growth has collapsed The economy’s recent productivity performance is the worst on record 1. The level of UK labour productivity has barely increased at all since the Global Financial Crisis. 2. Hence, producti… Become a member to read the rest of this article
SOUTH AFRICA: Mboweni promises wage bill cuts, but can he deliver?
● The key concession to credit ratings agencies in Finance Minister Tito Mboweni’s 26 February budget presentation was his promise to reduce South Africa’s wage bill by ZAR 160.2bn over three years. ● However, it is not clear if the government can deliver and if the plan can b… Become a member to read […]