Opposition parties criticise Finance Minister Godongwana's budget, slamming ANC's lack of economic growth plan and infrastructure strategy.
Opposition parties criticise Finance Minister Godongwana's budget, slamming ANC's lack of economic growth plan and infrastructure strategy.
“Yet, there is a notable absence of a coherent plan to fast-track this initiative.” He also noted there appeared to be no further direct bailouts to state-owned enterprises and no additional funds allocated to the “doomed NHI”.“This is where the good news ends,” George said. “Government has further adjusted its growth forecast downward to 0.6%, significantly impacting revenue collection and the funds available for service delivery – revenue is R56 billion lower than expected this time last year.
“Revenue generated from the mining sector decreased by 39.2%, while revenue generated from manufacturing decreased by nearly 6%. “Overall government debt for 2024-25 is expected to climb to R5.5 trillion with financing costs amounting to an estimated R380 billion, which is more than a billion rands per day.