"We are proposing a total debt-relief arrangement for Eskom of R 254 billion," he says.
He adds that that the consolidated fiscal deficit is projected at 4.2 per cent of GDP for2022/23, and this will reach 3.2 per cent in 2025/26, including Eskom's debt. The first applause line of the afternoon comes when Godongwana says the state is bringing the fiscal deficit down"without resorting to tax increases or further cuts in the social wage and infrastructure".Against low growth projections, the minister says government must maintain a"prudent fiscal stance".
"Load-shedding has become more persistent and prolonged, impacting on service delivery and threatening the survival of many businesses."The finance minister is expected to start speaking in about five minutes. Busisiwe Mavuso of Business Leadership South Africa notes that Godongwana will likely announce a fall in SA's projected GDP growth rate for 2023,
The finance minister is also expected to announce some kind of extension for the R350-a-month social relief of distress grant, originally implemented during Covid-19.
Vokken budget is so stupid soos die ding se bril op daai plat neus 👃🏿