Budget speech, reviving South Africa’s fractured economy
Later today we will hear about the government's spending plans for the country, for the 2021/ 2022 financial year. Finance Minister Tito Mboweni will deliver his budget speech at 2pm in Parliament.
Last year's budget boasted robust plans to help grow the country's economy but the impact of the COVID-19 pandemic forced Mboweni back to the drawing board.
Mboweni will deliver this year’s budget speech amid challenging circumstances.
Rebuilding South Africa’s embattled economy after almost an entire year in lockdown will be Mboweni’s main focus.
NOW READ: Deputy Mayor Belinda Scott resigns to pursue PHD
Social grants, reviving Eskom as well as addressing the government’s spiralling debt will be key talking points.
Analysts believe however he won’t make adjustments to personal tax - but will announce an increase on sin tax.
A can of beer and a packet of cigarettes is likely to cost more later this week.
Economists we spoke to say the topic of civil servants salaries could also be on the cards.
