When then finance minister Trevor Manuel presented the 10th budget of a free and democratic SA in 2003, he could point to a turnaround in economic growth and public finances since the ANC government’s first budget in 1994. And as it turned out, the best was yet to come.

By contrast, when finance minister Enoch Godongwana presents the 30th democratic budget this week, this could well be as good as it gets, as RMB Morgan Stanley economist Andrea Masia puts it...

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