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Budget aims to strike balance between reducing budget deficit, responding to challenges: Ramaphosa

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President Cyril Ramaphosa says the budget presented by Finance Minister Enoch Godongwana last week is an effort to strike a balance between reducing South Africa’s budget deficit while responding to the challenges faced by citizens.

Ramaphosa said this in his letter to the nation on Monday.

He says even at a time when the country faces a severe fiscal situation, the budget directs resources to areas of greatest potential for growth and jobs while supporting young people through public and social employment programmes and extending social protection for the most vulnerable.

Ramaphosa says government is embarking on economic reforms to ensure the country has enough electricity and water, ports and railway lines are more efficient and the country can attract skills and investment.

“At the same time in seeking to leave on one behind, the Budget has extended social relief to the unemployed and put additional money into the Presidential Employment Stimulus aimed at providing more work and livelihood opportunities for citizens.”

“Through more efficient use of resources, ending wastage and corruption and shifting spending from consumption to investment public debt can be reduced,” Ramaphosa says.

Below is the President’s letter:

INFOGRAPHIC: Budget 2022 In Numbers:

INFOGRAPHIC: Budget 2022 In Numbers:

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