Mini budget divides experts

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Godongwana was criticised for his economic forecasts being lowered to 1.8% in 2022 from the previous 2.2% and the even lower economic projection of 1.6% for 2023 and 1.7% for 2024. Photo: GCIS
Godongwana was criticised for his economic forecasts being lowered to 1.8% in 2022 from the previous 2.2% and the even lower economic projection of 1.6% for 2023 and 1.7% for 2024. Photo: GCIS

BUSINESS

Finance Minister Enoch Godongwana’s maiden medium-term budget policy statement has largely received institutional praise, while also drawing criticism for failing to include growth interventions.

The private and banking sector saw the mini budget speech as “prudent, consistent and clear”, congratulating Godongwana on his continued stance of fiscal consolidation, debt stabilisation and pushing for structural reforms he said were necessary for economic growth and job creation. Others called his policy statement “curious” because he and National Treasury failed to incorporate these supposed growth-accelerating interventions in his medium-term economic growth projections.

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