Tito Mboweni has faced up to the challenges and delivered a tough budget that will rescue the state from financial disaster – if it can be implemented.
South Africa’s national finances are in a perilous state and the finance minister will have the difficult task of setting out how they will be managed.
Much is riding in the 2020 Budget speech because a slide into full junk status by Moody’s is a very clear and present danger.
The dual catastrophes of South Africa’s unemployment and economic growth situations can only be met by leadership with a will to make the right but perhaps politically less palatable choices.
President Cyril Ramaphosa gave a positive SONA 2020 with some real plans to deal with our economic problems. The challenge is implementation.
It is up to President Cyril Ramaphosa to reinvigorate and inspire confidence in South Africans from all walks of life in his SONA.
SA can’t use public pensions as a convenient piggy bank to bail out our indebted SOEs and avoid fundamental reforms.
Placing land reform in the hands of a government official – a ‘land tsar’ – will only add another layer of policy uncertainty to South Africa’s economic story.
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