One of the key aspects of interest was state-owned enterprises’ rising debt, particularly Eskom. To this end, today’s budget highlighted a larger-than-expected injection of R23 billion per year over the medium term into the power utility that, together with other restructuring and turnaround measures reportedly under way, should hopefully assist Eskom to become a sustainable enterprise.
Agri SA is disappointed in the Minister of Finance, Tito Mboweni’s maiden budget speech. Minister Mboweni’s 2019 Budget Speech referred to agriculture through metaphors, such as “it is time for us to sow the seed of renewal and growth”. Sadly, outside of land reform, agriculture received relatively limited attention in the speech.
NWU Business School
‘The 2019/20 Budget Speech given to Parliament today was a frank and realistic assessment of the extent to which the economic and fiscal challenges facing SA had escalated since the Medium-Term Budget Policy Statement (MTBPS) or mini-Budget was presented in October last year. Finance Minister Mboweni nevertheless sought in a consistent way to add financial and fiscal dimensions to the broader vision outlined in the SONA earlier this month.
Free Market Foundation
The biggest bang in the 2019 Budget is the absence of any big bang. Its most striking feature is the absence of anything striking. SA’s debt, if not reversed, is going to reach a level that will lead to calamitous consequences. “The President has been saying repeatedly that his government wants growth and investment, yet there is nothing in this Budget that will stimulate growth or attract investment,” said FMF executive director Leon Louw. “It was just ‘budget as usual.”