Budget23

The social development department has been allocated R35.7 billion to fund the extended social relief of distress grant

Fresh billions will allow the appointment of 15 000 police trainees and prosecutors with skill in bringing financial crimes to court

The finance minister said South Africa still needs to address shortcomings but hopes the sanctions will not be severe

The finance minister delivered his speech at Cape Town City Hall

The money will go towards clearing the airline’s historic debt and may not be the last downpayment

The majority of the relief comes in the form of incentives given to businesses and households investing in alternative energy

However, the treasury still expects the country to achieve a main budget surplus from this year onwards

The debt relief amounts to almost as much as the power utility has received in bailouts since 2008

Finance Minister Enoch Godongwana will deliver the 2023 Budget Speech to the National Assembly in the Cape Town City Hall

M&G Editor-in-Chief Ron Derby expects Godongwana to follow a rather similar course that his predecessors have set, by kicking the can down the road, yet again at his budget speech

The utility’s R400 billion debt has fed into the country’s 15-year energy crisis and low growth potential, which has been identified as a key credit weakness

The president tells party leaders that the new electricity minister will also be a project manager for Medupi and Kusile power stations

With the economy in crisis, worsened by load-shedding, the fiscus must be more responsive