BONANG MOHALE: What business expects from Tito Mboweni’s 2019 budget
The success of this budget speech will depend on the degree to which it supports Cyril Ramaphosa’s Sona commitments
The tabling of the annual national budget speech by finance minister Tito Mboweni on February 20 is being rightly heralded by all stakeholders as a significant milestone in President Cyril Ramaphosa’s plans to get SA on a high growth path. In many ways, however, the success of this year’s budget will be measured by its credibility in aligning with the state of the nation (Sona) address’s commitment, particularly financing the special unit with the office of the national director of public prosecutions (NDPP), cutting back on wasteful expenditure, such as the public wage bill, eradicating theft of public resources, and reducing the money spent on servicing debt. LISTEN: What to expect from this year's National Budget: Whilst economic growth this year is expected to be a bit firmer than last year, at 1.7% on latest World Bank estimates, it will hardly be enough to swell the tax base sufficiently to cope with the demands being placed on the fiscus. In fact, in the absence of any provis...
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