Economy

South Africa's National Budget Speech 2020: A fiscal surprise

South Africa’s Minister of Finance, Mr Tito Mboweni delivered a surprising budget for 2020/21 before Parliament today by opting not to increase tax rates, highlighting the fact that in the current economic environment, substantial increases are likely to be ineffective.

PPS Investments: National Budget Speech Commentary

The widespread view coming into this year’s Budget Speech, was that it needed to credibly steer us towards growth, while also addressing the growing fiscal deficit and lowering the debt trajectory. This is no easy task, but is precisely what South Africa desperately needs.

Good budget. Risky strategy

Finance Minister Tito Mboweni appears to have managed the almost impossible, presenting a budget in which there are not only no increases in taxes, but for the first time in years, also full inflation adjustments for bracket creep, which should inject R14 billion into the economy.

Budget better than expected, but not good enough for Moody’s