News Formal

BUDGET2022: Economists, business give a cautious thumbs-up to Godongwana’s maiden financial plan for SA

  • 📰 dailymaverick
  • ⏱ Reading Time:
  • 24 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 13%
  • Publisher: 84%

United States News News

United States United States Latest News,United States United States Headlines

Finance Minister Enoch Godongwana’s debut Budget has been given a cautious thumbs-up by economists and business groups. No one is popping the Champagne cork, which is now more expensive, but no one is drowning their sorrows in a bottle of pricier brandy either.

Finance Minister Enoch Godongwana had a tough balancing act on Wednesday and the consensus among economists and business is that he managed to stay upright. The ANC is known for its statist instincts, but as the governing party’s long-time economic guru, Godongwana is keenly aware of the need to talk to capital. Its reception is crucial to his credibility.

“While South Africa is clearly not out of the woods regarding the fiscal situation yet, we have come a long way and we are now in a vastly improved position with significantly less debt default risk compared with two years ago. Plus, we are strongly – albeit slowly – moving in the right direction,” Els said in a commentary.

The tax measures have been widely welcomed, with the only increases being sin taxes – including sugar – and carbon tax.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 3. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

BUDGET WRAP | 'Boring but responsible' - finance minister gets thumbs-up from economists | Fin24Finance Minister Enoch Godongwana has said the government will not be raising key tax rates this year, but may need to hike taxes in the future.
Source: News24 - 🏆 4. / 80 Read more »

LIVE | Finance Minister Enoch Godongwana delivers his maiden budget speech | Fin24Finance Minister Enoch Godongwana will announce how much money the government has received from taxpayers and how it plans to spend it when he delivers his maiden budget address this afternoon.
Source: Fin24 - 🏆 21. / 63 Read more »