Blog
man putting wallet in pocket
What happens when you tax the rich?
Christopher Axelson, Jukka Pirttilä, Antonia Hohmann, Roxanne Raabe, Nadine Riedel
South Africa faces a dual challenge of limited fiscal space—the need to raise sufficient revenues to finance public services—and high levels of inequality. One possible solution is to raise tax rates on the rich. If...
August 2024
Public revenue
Blog
game of jenga
The economic ripples of rising government debt
Abishek Kumar, Sushanta Mallick and Abena Larbi-Odam
In recent years, governments worldwide witnessed a surge in debt levels . According to the Institute of International Finance, global debt reached a staggering USD 315 trillion in early 2024 , with sizable increases in...
AUGUST 2024
Macro-fiscal analysis
Blog
globe
Mapping economic stability for countries in the Global South
Richard Kima
In 2024, central banks worldwide are confronted with the challenges of juggling inflation control , economic growth, and the preservation of financial stability. A new report from the United Nations Department of Economic and Social...
MAY 2024
Macro-fiscal analysis
Blog
speaker
Analysing monetary policy communication in South Africa
Katrien Smuts
In monetary policy communication, every word carries weight. Consider this scenario: the South African Reserve Bank (SARB) articulates its stance to anchor inflation expectations , yet this message undergoes subtle transformations when translated by the...
April 2024
Blog
Coins in a glass jar
Is South Africa caught in a fiscal trap?
Hylton Hollander and Roy Havemann
Over the past decade, the interest rate that South Africa pays on its debt has consistently been above the economic growth rate. Mathematically, this means that debt grows as a percent of GDP. It becomes...
March 2024
Macro-fiscal analysis
Blog
high rise buildings in Africa
Data access for economic growth in Africa
Aimable Nsabimana and Abena Larbi-Odam
Sub-Saharan Africa has abundant natural resources and a substantial market, with an estimated population of 1.2 billion. The population is projected to grow by nearly 80% and reach almost 2 billion people by 2043. This...
February 2024
Blog
coins
Gender pay gaps on the rise in South Africa
Michelle Pleace, Matthew Clance, and Nicky Nicholls
New analysis of income data in South Africa shows the gender pay gap—how much more men earn than women—has increased. According to findings from a study conducted on the SA-TIED programme, in 2021, women in...
January 2024
Public revenue
Blog
people in an office
High wage inequality in South Africa – are employers to blame?
Shakeba Foster
South Africa ranks as the world’s most unequal country by income. This is largely due to high wage inequality, given that wages are the main income source for the majority of the working population. Exploring...
January 2024
Labour market and inequality
Blog
sign
What has happened to the personal income tax base since 2011?
Andrew Donaldson
Introduction Personal income tax is the primary revenue source in South Africa’s fiscal system. Its buoyancy in the context of slow and declining economic growth over the past 13 years has resulted in part from...
December 2023
Blog
empty wallet
Realizing socioeconomic rights with a limited budget
Philippe Burger
Introduction The South African constitution includes a number of socioeconomic rights, such as the right to education and access to housing, food, and healthcare. Nevertheless, the constitution qualifies some of the socioeconomic rights by the...
November 2023
Macro-fiscal analysis