JOHANNESBURG - Finance Minister Malusi Gigaba delivered his maiden Budget Speech to the nation in Parliament from Cape Town earlier this afternoon.
Take a look at the major quotes from his speech here:
"This is a tough, but hopeful budget."
"Budget 2018 charts a path out of economic stagnation, anticipating a steady increase in economic growth which will create a path to prosperity for our people, and improve our nation’s finances over time."
"We need to provide investors with the certainty required to increase investment. Raising the level of investment and improving the ease of doing business in the country will support job creation. By deconcentrating our economy, we are radically transforming the structure of our economy."
"These fiscal proposals will cause economic discomfort, but they are necessary to protect the integrity of the public finances."
"Acting now to strengthen the fiscal position will improve the outlook for the economy and increase space for future investment growth. It is the right thing to do."
"We dare not borrow irresponsibly, leaving it to future generations to repay."
"Next week, the Director-General of National Treasury will issue a directive to all government departments and public institutions, instructing them to pay suppliers on time, or be charged with financial misconduct."
"The budget we present today is not easy and the choices we have had to make are difficult."
"Let this be the year of renewal, revitalization and a step change in progress in fostering inclusive economic growth which rolls back unemployment, poverty and inequality. "
- BUSINESS REPORT ONLINE