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SA faces tough budget choices in recession – Gigaba

Lower than expected growth is likely this year, which will put strain on fiscal framework, finance minister says.

JOHANNESBURG – South Africa has tough decisions to make going into its next budget as the nation is in its first recession since 2009 after several years of low growth, the finance minister said on Thursday.

“…lower than expected growth is likely this year which will put strain on fiscal framework. Going into the October medium term budget policy statement, we will have some tough decisions to make,” Finance Minister Malusi Gigaba said at the Thomson Reuters economist of the year awards.

Gigaba is set to brief the media later on Thursday about the government’s plan for “inclusive growth”. 

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Correction – “The ANC face tough budget choices” as they have all but run out of other people’s money in true communist style!

I have a couple of pointers…..

1. Stop funding non-profit making state enterprises (SAA comes to mind)
2. Stop buying new cars
3. Slow down on the consultants – they are costing you a bundle
4. Try to appeal court verdicts less often – your track record is woeful

2, 3 and 4 are not enormous in the scale of things, but it’s the perception of saving you need to inculcate.

You are welcome

THIS !!

“1. Stop funding non-profit making state enterprises (SAA comes to mind)”

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