JOHANNESBURG - Kemp Munick, head of Structural solutions and Jacob Ssali and Doctoral Candidate of Law from the University of Pretoria shared their views on Finance Minister, Malusi Gigaba's Mid Term Budget Policy statement with Business Report shortly after the speech was concluded.
Ssali said government must stop spending on things that are not bringing back money.
“The smaller institutions are making profits other than the bigger institutions that are too big to fail are not making any money”.
“We didn’t expect too in consideration of what we have seen in the past months. People who have been in the financial sector will know that the political instability was the major factor to the current situation that we in, because investor confidence goes down with everything,” said Ssali.
WATCH Ssali's views on Gigaba's mini budget below:
Munick added that Gigaba did what he had to do.
“They are so many issues that needs to be addressed, like expenditure he didn’t give us a clear indication of what exactly is going to happen and what is he going to do. There is a lot of talk about the new management and SOEs”. Munick said that it is going to be tough next year when the Budget speech comes out.
Watch what Munick had to say below:
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Watch both of their views on how Gigaba managed his first ever budget speech below: