South Africa has overcome adverse initial conditions to achieve a remarkable fiscal transformation since the 1994 democratic elections, held amid uncertainty about its ability to maintain the rule of law and resist populist spending pressures. Constitutionally based, durable and credible fiscal...

This paper discusses the rationale and options for a fiscal anchor for South Africa and its potential for restoring and maintaining fiscal sustainability. It argues that a well designed fiscal anchor can be useful in the current fiscal milieu, but notes that the popularity of fiscal rules belies...

The implementation of the Public Finance Management Act (PFMA), 1999 is reviewed in this book, focussing on the development and reform of financial governance arrangements after 2000. South Africa has a long way to go to ensure that financial reforms are translated into service delivery gains....