Enoch Godongwana faces a tough challenge in ensuring his budget does as much as it can to underpin sustainable growth
Finance minister Enoch Godongwana will present a medium-term budget on Wednesday that is expected to show a much better fiscal picture than he painted in February — but an economic growth outlook that is no better and possibly worse.
Unless the government takes firmer and faster action to turn around the growth dynamic, the budget is limited in how much it can do to improve our economic fortunes. Godongwana will have to find the difficult balance between ensuring his budget does as much as it can to underpin a more sustainable growth path for the economy and curbing spending to stabilise the public debt without adding to SA’s growth and service delivery woes. It’s no easy task...
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