With the State of the Nation Address (SONA) and its subsequent debate now done and dusted, attention turns to the 2019 Budget Speech, which will be delivered later this week.
Happening on 20th February, in front of the National Assembly, all eyes will be on Minister of Finance, Tito Mboweni, to see how he plans to tackle several major issues plaguing the country.
The speech is expected to give further details around spending and revenue collection plans, as well as how they’ll be carried out, with the President proposing said plans during SONA last week.
One of the more significant discussions that occurred earlier this week in front of the National Assembly, was “Transforming the economy to serve the people.” this connects with President Cyril Ramaphosa, trying to raise over R100 billion in new investments over the next five years.
Among other urgent issues raised was the Eskom energy crisis, as well as the Assembly considering the Traditional Leadership and Governance Framework Amendment Bill. They also proposed to amend the National Minimum Wage Act of 2018 and the Carbon Tax Bill.
We will have to wait for the Minister of Finance to deliver his speech tomorrow at 14:00, to hear what he has to say about the five urgent tasks the government has to work on., along with responses from analysts as to how his budget will impact South Africa for the rest of 2019.