Finance Minister Enoch Godongwana faces a difficult task as he prepares to deliver this year's budget speech, balancing the positive sentiment from the newly formed Government of National Unity with mounting global economic challenges.
JOHANNESBURG - Some economists believe the positive sentiment generated by the formation of the Government of National Unity (GNU) might be overshadowed by a new set of challenges as Finance Minister Enoch Godongwana prepares to deliver this year's budget speech. The anticipated budget is expected to reflect a blend of policies from the various political partners within the GNU.
While the GNU has fostered investor confidence and ensured policy continuity thus far, experts from wealth management company Citadel maintain that the pace of structural reforms hasn't yet aligned with the optimism witnessed following the elections. Citadel's chief economist, Maarten Ackerman, characterized the upcoming budget as a challenging one. 'And then on top of that,' he stated, 'we're suddenly facing a lot of headwinds from the global environment, and I'm not just referring to the recent feedback from Trump. There's significant uncertainty surrounding trade, trade tariffs, and trade wars.' Ackerman expressed optimism about the progress being made, particularly regarding policy reforms, anticipating that these will gradually yield better results, although he cautioned that it would take two or three years to fully materialize
ECONOMY SOUTH AFRICA BUDGET GOVERNMENT OF NATIONAL UNITY GLOBAL ECONOMIC CHALLENGES
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