Business prevails as Godongwana cuts public spending to minimum

📆 2-11-2023 08:53:00
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The minister appeared to be concerned with dealing with the public spending crunch due to the fast-depleting fiscus.

He said the budget recognised that government must respect budget constraints and preserve sustainability of government services that are being crowded out by debt service costs. Government spending has exceeded revenue since the 2008 global financial crisis.

Corruption in SA still remains significant and continues to have far-reaching consequences for the political, economic and social landscape, as the country plunges into debt now standing at R5.2 trillion and to exceed the R6 trillion mark by 2025.

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