What to expect ahead of Budget Speech 2018
The country's financial plans for the year ahead will be known this afternoon when the Finance Minister delivers the 2018 budget in the National Assembly.
It follows the recent election of President Cyril Ramaphosa after Jacob Zuma was recalled by the ANC.
This afternoon's budget speech follow's Ramaphosa's relatively growth friendly State of the Nation Address on Friday. That's according to Business Partners Limited.
South Africans will today learn how National Treasury plans to minimise the country's revenue deficit - estimated to be around R50-billion.
Business Partners Limited managing director, Ben Bierman says although Treasury must consider lowering expenditure and increasing income tax rates such VAT to decrease the budget deficit - it is also critical to deliver a business friendly budget that stimulates economic growth.
Bierman is hopeful the Treasury's plans will focus on creating a more conducive environment for small and medium enterprises.
He says Treasury must emphasise the role SMEs play in the broader economic environment.
Business Partners Limited says a boost for SME business formation and business growth will have a positive affect on job creation.
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