Government should continue to target a deficit within 3% of GDP.
This is the view of Reserve Bank Governor Sada Reddy who said fiscal discipline will assist towards a sustainable balance of payments adding a deficit should only be allowed to increase for capital expenditure.
Reddy added government should also work towards increasing a proportion of capital expenditure from 18% to 30% in the next 3 years adding government should continue reforms of the public sector (civil service and statutory bodies) to reduce total operating expenditure.
He said government support and a guarantee should be given to statutory bodies to be gradually reduced adding this should be through a pre-announced strategy.
Continue to target deficit: Sada
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