Chief Economist speaks 2020 Budget Speech
Dawie Roodt from the Efficient Group shared a few insightful suggestions into what South Africans can expect from Minsiter of Finance Tito Mboweni's Budget Speech on Wednesday evening.
Listen to the audio or read the details below:
The Budget Speech is the most anticipated speech to come out of the National Assembly, along with the President's State of the Nation's Address.
It is no secret that South Africa is in financial turmoil, and Finance Minister Tito Mboweni has a great task ahead of him. Dawie states that one of the minister's main priorities will be trying to convince rating agency, Moody's, that South Africa is serious about cutting back on its debt and creating a stable economy, which endured a decade of mismanagement under the rule of former President Jacob Zuma.
READ: Budget speech: South Africans can't afford another VAT hike, says economist
Another priority for Mboweni is cutting back on the new wage bill which is being implemented. Dawie explains this will be an extremely difficult task for the minister do. Tackling state-owned enterprises is high on the agenda, Mboweni has expressed his concerns regarding these entities on numerous occasions, Eskom being one of them.
READ: SA economy not out of the woods just yet: Economist
Find out Dawie's suggestions below: