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2022 budgetlatest news & developments
February 23 2022 – Minister Enoch Godongwana speaks to the media at the Imbizo Media Centre in Parliament, Cape Town. (David Harrison)

Light at end of tunnel, but wage bill could blow the budget

The treasury is meeting rating agencies that identified the public service compensation as a threat to South Africa’s credit outlook

Finance minister Enoch Godongwana.(Brenton Geach/Gallo Images via Getty Images)

Treasury needs to be braver, but Godongwana’s neutral budget is a good start

The government has finally started to recognise the importance of SMMEs in job creation, the business bounce-back scheme being a case in point

The department of mineral resources and energy said the new fuel prices would come into effect on Wednesday. (Waldo Swiegers/Bloomberg via Getty Images)

Relief as treasury puts brakes on fuel levy hike amid petrol price crunch

The last time the fuel price was not increased because of a change in either the fuel levy or the Road Accident Fund levy was in 1990

Dondo Mogajane, director general of the South African National Treasury, Enoch Godongwana, South Africa’s finance minister, David Masondo, South Africa’s deputy finance minister, and Edward Kieswetter, commissioner of the South African Revenue Service (SARS), (left to right), make their way to the budget presentation in Cape Town, South Africa, on Wednesday, Feb. 23, 2022. South Africa cut corporate taxes and set more ambitious targets for reducing debt, after a surge in commodity prices led to higher-than-expected tax income. Photographer: Dwayne Senior/Bloomberg via Getty Images

Public sector wage bill still a threat, even as fiscal outlook improves

A portion of the government’s revenue overrun, the result of the commodity boom, will be used to pay provincial employees

Minister Enoch Godongwana delivers his maiden budget speech in the Good Hope Chamber in Parliament, Cape Town. (Photo: David Harrison)

Godongwana plumps up NPA amid worries over state capture cases

The finance minister adds R426-million to employ 90 more staff for the Investigating Directorate, but most of it must be found through ‘reprioritisation’

KwaZulu-Natal residents who are unemployed, financially struggling and hungry have lambasted Eskom’s proposed 36.1% tariff hike. (Dean Hutton/Bloomberg/Getty Images)

Budget 2022: Finance minister calls on Eskom to sell assets to solve its debt issues

The finance minister says Eskom’s debt problem may require some ‘fiscal intervention’, but only if certain conditions have been met by the parastatal led by André de Ruyter

The private sector can contribute to migration policy development to improve business operations, boost productivity and support the economy. (Oupa Nkosi)

Budget 2022: ‘There is a real risk that jobs lost to the pandemic may never return’

Persistently high joblessness, the budget notes, has emerged as a key weakness in economic performance

Opposition parties have slammed the department of defence and state-owned military manufacturer Denel after the Special Investigating Unit (SIU) told parliament it had uncovered irregularities in procurements and the awarding of contracts

Budget 2022: Godongwana sticks to tough love talk on SOEs, but dishes out funding to Denel

The finance minister made a smallish exception for Denel in terms of funding but warned that the government wants to push ahead with plans to consolidate SOEs that no longer…

Enoch Godongwana,   (Dwayne Senior/Bloomberg via Getty Images)
Video

WATCH LIVE: Godongwana delivers the budget speech

The Finance Minister delivers his maiden budget speech.

SAB, alcohol industry ask government for reduced excise taxes

Applying above-inflation increases in excise is beneficial neither to government nor the beer industry, says South African Breweries