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Minister of Finance to Present Budget for 2024 Fiscal Year

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Finance Nouvelles

Minister Of Finance,Budget,Fiscal Year

Minister of Finance Enoch Godongwana will be presenting the country's budget for the upcoming fiscal year in Parliament at a sitting of the National Assembly at the Cape Town City Hall tomorrow, 21 February 2024. The budget speech is expected to address the country's financial challenges, including credit rating downgrades, government debt, and a significant deficit. The timing of the speech, just before a national election, adds to the difficulty for the minister.

Minister of Finance Enoch Godongwana will be presenting the country's budget for the upcoming fiscal year in Parliament at a sitting of the National Assembly at the Cape Town City Hall tomorrow, 21 February 2024. With humiliating downgrades from credit rating agencies, runaway government debt, and a catastrophic deficit of 6% of our GDP, Minister of Finance Enoch Godongwana is likely to make us all weep a little come Wednesday evening.

The 2024 Budget Speech falls right before a national election, which makes it even harder for the minister. Comments such as "brace for financial challenges," are the last thing a government wants to tell voters, but we've come to the eye of the needle, and someone will have to get knee-capped before we pass through. Odds are it is the taxpayer. The 2024 Budget will present an overall look at the state of the country’s finances, amendments to tax, spending plans for the upcoming fiscal year, distribution of revenue across government and distribution of expenditure across national department

 

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