Michael Sachs warns against saying too little in budget
Wits professor and a former head of the budget office in the Treasury, Michael Sachs, says the government risks losing its credibility in the medium-term budget policy statement should it make assumptions that are not realistic.
Finance minister Enoch Godongwana presents his maiden budget on Thursday following a tumultuous 18 months for the country, including the Covid-19 pandemic and an economic lockdown that led to the biggest GDP drop in a century. The country also had to contend with the July insurrection in which billions of rand in property was stolen and destroyed by looters, and which has seen pressure being piled on the government to boost social spending. ..