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Finance Minister Pravin Gordhan will present the budget speech to Parliament on 24 February 2016, at 2pm.
It is expected to be a tough statement for the minister as the country’s outlook is dim. A weak rand, electricity and water supply constraint are expected to hamper growth by both interrupting production and by discouraging investment.
In the Medium-term budget announcement, Government indicated that it expects the South African economy to grow by 1.7% in 2016 and 2.6% in 2017.
Watch video below for former Finance Minister Nhanhla Nene’s full speech:
– By SABC Research team
