Finance minister’s actions are likely to boost confidence in SA
Important decisions were rolled over to the annual budget in February but the strong commitment to fiscal discipline displayed by finance minister Enoch Godongwana in his maiden medium-term budget on Thursday will certainly boost confidence in the country.
Two issues that investors and ratings agencies watch closely both moved in the right direction, showing that we are on the right path and need to stick to it. First, the government’s consolidated deficit is expected to reach 7.8% of GDP in 2021/2022, down from February’s forecast of 9.3%, and it is expected to decline to 4.9% of GDP by 2024/2025. Second, the gross loan debt-to-GDP ratio is expected to reach 69.9% in 2021/2022 and rise to 78.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
BUSI MAVUSO: Godongwana sets example for strong fiscal disciplineFinance minister’s actions are likely to boost confidence in SA
Read more »
BUSI MAVUSO: Godongwana sets example for strong fiscal disciplineFinance minister’s actions are likely to boost confidence in SA
Read more »
Mini budget divides experts | CitypressWhile opinion is divided over the MTPBS, Godongwana reacts defensively to criticism.
Read more »
Social Relief Grant | WATCH | South Africans reactMillions depend on the Social Relief grant but Finance Minister Enoch Godongwana said he could not confirm if the grant would be extended beyond March 2022.
Read more »
Editorial | Little to cheer in budget | CitypressEditorial | Little to cheer in budget | There are no easy solutions to turn this weighty struggling ship around, but what is certain is that consumers will have to tighten their belts even further
Read more »
LETTER: Budget is no differentDoes Enoch Godongwana have the support within the upper echelons of the ANC that he needs to succeed?
Read more »