The Design of Fiscal Adjustment Strategies in Botswana, Lesotho, Namibia, and Swaziland |
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| Author:
| Zanna, Luis Felipe
Basdevant, Olivier
Yang, Susan
Benicio, Dalmacio
Mircheva, Borislava
Mongardini, Joannes
Verdier, Geneviève |
| Series title: | IMF Working Papers |
| ISBN: | 978-1-4639-6784-0 |
| Publication Date: | Nov 2011 |
| Publisher: | International Monetary Fund
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| Book Format: | Ebook |
| List Price: | Contact Supplier contact
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Book Description:
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Botswana, Lesotho, Namibia, and Swaziland face the serious challenge of adjusting not only to lower Southern Africa Customs Union (SACU) transfers because of the global economic crisis, but also to a potential further decline over the medium term. This paper assesses options for the design of the needed fiscal consolidation. The choice among these options should be driven by (i) the impact on growth and (ii) the specificities of each country. Overall, a focus on government consumption...
More DescriptionBotswana, Lesotho, Namibia, and Swaziland face the serious challenge of adjusting not only to lower Southern Africa Customs Union (SACU) transfers because of the global economic crisis, but also to a potential further decline over the medium term. This paper assesses options for the design of the needed fiscal consolidation. The choice among these options should be driven by (i) the impact on growth and (ii) the specificities of each country. Overall, a focus on government consumption cuts appears to minimize the negative impact on growth, and would be appropriate given the relatively large size of the public sector in each country.