When finance minister Enoch Godongwana delivers the budget on February 21 all eyes will be on proposals to address a worsening fiscal situation, low economic growth and runaway government spending.

The budget has been prepared against the backdrop of weaker-than-expected global and domestic growth, which has slowed revenue growth and widened the budget deficit; continued losses by municipalities and state-owned enterprises (SOEs) such as Transnet and Eskom; and higher borrowing costs as a result of an elevated risk premium and tighter global monetary conditions...

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