In his 2019 Budget Speech, South Africa’s Finance Minister Tito Mboweni made the statement, ‘we are masters of our own destiny’, as he outlined a number of fiscal prudence measures aimed at assisting SA’s economic recovery. For SA consumers, there’s a mix of good and bad news. Here are some of the most important points.
As Minister Mboweni stated, the Budget is about SA’s long-term vision. In the same way, South Africans need to carefully consider the long-term benefits of money decisions they make today.
For more details about the Budget, click here.
SPECIAL FEATURE: Arthur Kamp’s Budget 2019 summary
Budget 2019 very clearly shows that our state-owned enterprises (SOEs) have become such a drag on the fiscus that it’s difficult to place the government’s finances on a sustainable path. This situation is compounded by an underperforming economy, which necessitates continued tax increases. Investment Economist Arthur Kamp summarised the main messages of the Budget. For his full article and podcast, click here.