Discuss South Africa's fiscal policy with specific reference to the Budget and the impact of the Coronavirus pandemic on the 2022 Budget. Your discussion should cover each the following points: Define fiscal policy. Describe the role of the budget in fiscal policy. Discuss how the policy variables, government spending and taxation, are used to influence economic activity. Explain the progress (recovery, stability and growth) of the South African economy and the impact on the fiscal policy since the start of the Covid-19 pandemic by reading through Chapter 1 of the Medium-Term Budget Policy The Independent Institute of Education (Pty) Led 2022 Pass 7 of 10 21, 22 Statement (MTBPS) 2021. This document can be accessed (and] downloaded) at: http://www.treasury.gov.za/documents/mtops/2021/mbes/ FUI MTBPS.pdf Refer to Tables 3.4 (p.30) and 4.4 (p.41) in the MTBPS. Comment on the amendments to Gross Tax Revenue (Table 3.4) and the adjustments to Consolidated Expenditure (Table 4.4). Provide relevant information to support your comments Clearly distinguish between expansionary and contractionary