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Finance minister Enoch Godongwana. Picture: GCIS/Elmond Jiyane
Finance minister Enoch Godongwana. Picture: GCIS/Elmond Jiyane

SA’s national budget for 2022 is the focus of this edition of the Business Day Spotlight. 

Our host Mudiwa Gavaza is joined by Annabel Bishop, chief economist at Investec, and Dawie Roodt, chief economist at Efficient Group, for a comprehensive examination of the speech.

On Wednesday, finance minister Enoch Godongwana gave his maiden budget speech, detailing government’s income and expenditure plans for the year to come and for the medium to long term. 

Bishop and Roodt give their initial impressions of the minister’s remarks before discussing the implications for the economy.

Join the discussion: 

The panel agrees that this was a “good news budget” owing to a number of concessions and positive developments that National Treasury was able to deliver.

Bishop zones in on what financial markets are likely to be concerned about, saying a lowering of the national debt projection — where it had been expected to increase — is positive. 

Roodt says he’s concerned about the level of social spending, owing to high levels of joblessness, and the skew in numbers between those funding it and those being supported by it. 

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 Business Day Spotlight is a MultimediaLIVE production.

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