Decoding Godongwana’s budget priorities
SA’s new finance minister may not need to maintain such extremely tight public spending limits as his predecessor had to, but he has little scope for more social disbursements
28 October 2021 - 05:00
The standout feature of the February 2021 budget was the National Treasury’s resolve in sticking to its fiscal consolidation path and using the bulk of a R100bn revenue windfall to consolidate SA’s debt.
This cheered the markets, especially as more than half of the R265bn in planned expenditure reduction was to be carved from the bloated wage bill, because it denoted a new level of seriousness by the government in getting to grips with SA’s fiscal challenges...
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