National Treasury intends to stick to a balanced fiscal stance under a coalition government, its director-general said on Tuesday after the ANC lost its majority in last week's elections.
“I think our fiscal strategy is achievable, even in a coalition environment, because it is quite balanced,” Duncan Pieterse told Reuters.
The ANC has up to two weeks to agree a coalition pact or another form of power-sharing arrangement with other political parties after its share of the vote dropped below 50% for the first time in the post-apartheid era.
“A balanced macro-fiscal stance becomes more defensible in an uncertain political environment. We intend to continue managing the fiscal stance along those lines,” Pieterse said.
The ANC's potential partners diverge widely, from the free-marketeer DA to the more radical MK Party and the EFF, parties that advocate nationalising mines and banks and redistributing land.
South African markets rallied on Monday as investors bet on the ANC opting for a coalition including the DA rather than one involving MK or the EFF.
Reuters
SA’s fiscal stance to stay balanced under coalition, Treasury says
Image: File/Karen Moolman
National Treasury intends to stick to a balanced fiscal stance under a coalition government, its director-general said on Tuesday after the ANC lost its majority in last week's elections.
“I think our fiscal strategy is achievable, even in a coalition environment, because it is quite balanced,” Duncan Pieterse told Reuters.
The ANC has up to two weeks to agree a coalition pact or another form of power-sharing arrangement with other political parties after its share of the vote dropped below 50% for the first time in the post-apartheid era.
“A balanced macro-fiscal stance becomes more defensible in an uncertain political environment. We intend to continue managing the fiscal stance along those lines,” Pieterse said.
The ANC's potential partners diverge widely, from the free-marketeer DA to the more radical MK Party and the EFF, parties that advocate nationalising mines and banks and redistributing land.
South African markets rallied on Monday as investors bet on the ANC opting for a coalition including the DA rather than one involving MK or the EFF.
Reuters
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