President Cyril Ramaphosa has assured South Africans that ongoing Cabinet discussions on the Budget will prioritise economic stability and vulnerable citizens.
Ramaphosa stressed the need for economic growth, job creation, and poverty alleviation, saying efforts will continue to balance fiscal constraints with development goals.
‘We are called upon as the national leadership to pursue all initiatives aimed at growth in order for us to increase employment and alleviate the effects of poverty.’Presidential spokesperson Vincent Magwenya says the postponement of the budget speech was the result of disagreement but also collegial and mature consensus among members of cabinet.
‘We are working as partners to ensure that the Budget is one that works for individuals and investors alike,’ the presidency said in a statement. Following the Budget postponement, the rand weakened from R18.33 to R18.57 against the dollar. However, the National Treasury said it is only concerned about long-term depreciation impacting inflation.
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