At the same time, the US Treasury will issue considerably more debt than in recent years to finance the US budget deficit, which has grown from 2 per cent of GDP in 2015 to over 5 per cent in 2019 as the Trump administration implements its sizeable fiscal stimulus.
The Bank’s role in South Africa’s institutional landscape The Bank has a long and proud history of supporting South Africa’s institutional strength. In fact, in June the Bank celebrated its 95th anniversary. The role of the Reserve Bank and its independence is clearly enshrined in the Constitution.