Purely from the numbers and tone perspective, what’s not to like about Enoch Godongwana’s medium-term budget policy statement speech on Wednesday?

It painted a picture of a much-improved fiscal outlook in which elevated commodity prices played a notable role in boosting tax collection by a higher-than-expected R83.5bn. The budget deficit is expected to be 4.9% in the current year, well below an estimate of 6% in February, and narrower further in the medium term to 3.2% by the 2024/2025 fiscal year.  ..

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