South Africa is anxiously awaiting the medium term budget speech by Finance Minister Enoch Godongwana on Wednesday, November 1, 2023.
Finance Minister Enoch Godongwana has warned that the government needs to trim the Budget and cut down on the bloated civil service - a proposal not favourably received by the government or trade unions. The minister also said that the country will be penniless by April 2024, if a spending cut is not implemented,
The country faces high inflation, high petrol prices which impacts the price of foodstuffs and a high unemployment rate, even though StatsSA reports a lowering of the figures, which stands at 32,9% - among the highest in the world.Fiscal consolidation is no longer on the cards.
AllAfrica is a voice of, by and about Africa - aggregating, producing and distributing 500 news and information items daily from over 100 African news organizations and our own reporters to an African and global public. We operate from Cape Town, Dakar, Abuja, Johannesburg, Nairobi and Washington DC.
Business Business Latest News, Business Business Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TechCentral - 🏆 8. / 71 Read more »