Finance minister Enoch Godongwana has presented a budget with the election in mind, according to analysts who say the 2024 national budget was designed to boost the ruling party’s campaign through expanded social support and no new tax measures.

Godongwana’s claim that the government would also achieve a primary budget surplus in 2023/24 with debt stabilising by 2025/26, was “smoke and mirrors”, CEO of Eunomix, a geopolitical and country risk consultancy, Claude De Baissac said on Thursday. It was not a surplus in the real sense of the term because the government was cashing in on the Reserve Bank’s reserves...

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