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The targets South Africa says it needs to meet to put the economy on track to create more jobs may prove elusive, at least in the medium term.
South Africa’s plan to rein in spending to narrow the budget deficit over the next three years is positive, rating agencies said.
Middle-class families are being hit hard by the rise in cost of living over the past few years.
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A R10 increase on the R300-a-month children’s social grant is not enough, says Dunoon mother Vaseka Nstinga, 25.
“It’s an insult, that type of money. If they gave us a decent income, we could try put some aside.”
South African Finance Minister Pravin Gordhan aimed to appease ratings companies and voters ahead of May 7 elections.
The Chamber of Mines welcomed Finance Minister Pravin Gordhan's announcement of partnerships between government and business.
At a time when rating agencies are closely monitoring emerging markets, government debt figures released yesterday in the Budget Review provided a mixed picture.
Pravin Gordhan tabled a Budget that holds the line against populist pressure, but provides no real tax concessions and few bold reforms to get growth going or tackle unemployment.
State-owned enterprises will account for R404.5 billion of public capital expenditure in the next three fiscal years.
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