At the end of June, South Africa’s finance
minister, Tito Mboweni, delivered an emergency budget speech. What’s a budget speech, what did he say, and
what does it mean?
What’s a budget speech?
It’s a speech the finance minister gives when he presents the state’s budget to parliament and citizens. A budget is a plan that states how much money you intend spending and how it will be spent. The government normally plans its budget for 12 months from 1 April to 31 March – this is called the financial year.
Check out the video below to find out more about what the minister said in his speech and what it means.