TY - CHAP
T1 - Post-COVID-19 in South Africa
T2 - The Pandemic and Public Finances toward Meeting the Sustainable Development Goals
AU - Mhlanga, David
N1 - Publisher Copyright:
© 2023, The Author(s), under exclusive license to Springer Nature Switzerland AG.
PY - 2023
Y1 - 2023
N2 - Companies both public and private, as well as national and international budgets, were adversely affected by the global economic downturn that followed the COVID-19 pandemic. In light of this, the purpose of this study is to look at how the COVID-19 crisis affected South Africa’s public spending plan. There was a comprehensive examination of the country’s tax income, job market, output, government spending, and overall debt. According to the content analysis results of this study, the COVID-19 pandemic had a significant impact on South Africa’s national finances. For instance, the research found that South Africa’s tax revenue collections were severely impacted, to the point where a revenue shortfall of almost R213.2 billion rand was forecast in the 2021 budget policy statement. Accordingly, this study suggests that the government should promote growth and investment, placing an emphasis on the quality of governance by boosting openness, adopting effective compliance procedures and technology, and opening the economy to citizen engagement. Strategies that can be implemented to achieve Sustainable Development Goals (SDGs) were also discussed in this chapter.
AB - Companies both public and private, as well as national and international budgets, were adversely affected by the global economic downturn that followed the COVID-19 pandemic. In light of this, the purpose of this study is to look at how the COVID-19 crisis affected South Africa’s public spending plan. There was a comprehensive examination of the country’s tax income, job market, output, government spending, and overall debt. According to the content analysis results of this study, the COVID-19 pandemic had a significant impact on South Africa’s national finances. For instance, the research found that South Africa’s tax revenue collections were severely impacted, to the point where a revenue shortfall of almost R213.2 billion rand was forecast in the 2021 budget policy statement. Accordingly, this study suggests that the government should promote growth and investment, placing an emphasis on the quality of governance by boosting openness, adopting effective compliance procedures and technology, and opening the economy to citizen engagement. Strategies that can be implemented to achieve Sustainable Development Goals (SDGs) were also discussed in this chapter.
KW - COVID-19 crisis
KW - Economic growth
KW - Public finance
KW - South Africa
KW - Sustainable Development Goals
UR - http://www.scopus.com/inward/record.url?scp=85166110247&partnerID=8YFLogxK
U2 - 10.1007/978-3-031-30541-2_19
DO - 10.1007/978-3-031-30541-2_19
M3 - Chapter
AN - SCOPUS:85166110247
T3 - Advances in African Economic, Social and Political Development
SP - 345
EP - 363
BT - Advances in African Economic, Social and Political Development
PB - Springer Nature
ER -