What a “stark” difference a few months can make in the life and finances of a country. At the tail-end of last year, Finance Minister Tito Mboweni, sounded alarm bells about the possible deterioration in the fiscus to levels comparable to that of Argentina, the poster child of economic ruin over the past three decades.
This week’s budget speech should provide for surprisingly better headlines about the short-term state of the fiscus compared to previous expectations as higher growth from the bullish commodity markets boosts state coffers, making it unlikely that finance minister Tito Mboweni will have to increase taxes.
Some political players are resorting to conspiracy theories to pin the blame for the poor investment sentiment towards South Africa on investors.
By Busi Mavuso
From every vantage point, the state of the nation address in 2021 was the most difficult for any modern-day SA president given the unusual challenges.
Delivering a state-of-the nation address when your country nears the 50,000-fatality mark from Covid-19 must rank as the most difficult that any modern-day South African president has had to do. The difficulties have been compounded by questions arising about the efficacy of the AstraZeneca vaccine, which has slowed the rollout in SA. Under these conditions,…
This year’s state of the nation address (Sona) takes on a much different hue from those of yesteryear for one important fact: we’ve all been disrupted.
WITH THE first batch of vaccinations arriving on our shores and the groundwork being laid by President Cyril Ramaphosa and his health ministry, for its rollout to health workers across the country, we can now begin to refocus on the economy.
The state of the nation addresses that President Cyril Ramaphosa has so far delivered have all had a few focus areas for his administration, particularly boosting confidence by rebuilding an ailing economy and governance in institutions that were at the centre of corruption.
Sadly, crime is a worrying, almost ever-present threat in South Africa.
Who would have thought the year would have been one shaped by an outbreak of a disease in Wuhan City in Hubei Province, China.
When Finance Minister Tito Mboweni first threw down the gauntlet on public sector wages last year when he delivered the medium-term budget, we knew that a hard road lay ahead in reaching agreement with workers.
As we draw the curtain on a year that historians across the globe will describe as “annus horribilis”, SA is going to have to urgently focus on the fault lines in the economy.