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Budget 2018 – The ‘Band Aid’ Budget

Thursday, 22 February 2018   (0 Comments)
Posted by: Author: Nazrien Kader
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Author: Nazrien Kader (Deloitte)

On Wednesday, 21 February, Honourable Minister Gigaba presented what he termed a “tough but hopeful” Budget, which took some hard decisions in order to put the country on a better fiscal trajectory.

Our overall impression is that this is a “Band-Aid Budget” which aims to stop the financial bleeding, but which isn’t enough, on its own, to deliver the growth prospects we need. For that, we’ll be looking to President Ramaphosa’s administration to set economic priorities and to deliver accordingly.

The question remains whether the measures presented by Minister Gigaba will be enough to placate the ratings agencies – which in turn influence South Africa’s long-term economic prospects.

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