DUMA GQUBULE: Government stumbles on towards failure with austerity budget
Only 32% of the 2021/2022 revenue overrun was invested in the economy
28 February 2022 - 15:13
After two budgets that announced record spending cuts of R421bn — R156.1bn in 2020 and R264.9bn in 2021 — finance minister Enoch Godongwana’s maiden budget eased some of the pain but continued with the failed austerity policies of the past decade.
As expected, the budget extended the R350 a month social relief of distress grant for one year at a cost of R44bn and allocated R18.4bn towards the presidential employment stimulus for two years...
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