by TINTSWALO BALOYI
JOHANNESBURG, (CAJ News) – WITH 2024 being an election year in South Africa, it is projected the 2024 Budget Speech will seek to satisfy as many of the broad interests of the social, commercial, public and private spheres as possible.
Finance Minister, Enoch Godongwana, will present the speech to Parliament on Wednesday.
The minister will outline South Africa’s economic, financial and social priorities in terms of government expenditure over the next year.
Harry Scherzer, Chief Executive Officer of Future Forex, said Godongwana faced a daunting task as the government grapples with a mounting debt crisis that is squeezing taxpayers and stifling investor confidence.
“With the budget deficit at an all-time high, Godongwana’s options are stark: borrow more, raise taxes, or cut expenditures,” he said.
Scherzer said borrowing more would only exacerbate the debt crisis while raising taxes could further burden…
