Finance Minister Pravin Gordhan is expected to keep a reign on government spending when he announces the interim budget in Parliament on Wednesday. President Jacob Zuma said on Tuesday that the mini-budget would stimulate economic growth but also encourage fiscal discipline. Analysts believe Gordhan is likely to unveil a budget that is still facing a lot of strain. Many believe the country’s financial position has deteriorated due to the weakening economy.
Analysts also expect say Gordhan to widen his deficit forecast for 2013/14 to 4.9% of GDP from the 4.6% seen in February.
Mokgatla Madisha from Argon Asset Management shared his thoughts on Morning Live.
SABC senior business reporter Nompumelelo Siziba says South Africa’s economic growth rate is slowing down.
Gordhan’s speech will begin at 2pm today. It will be carried live on SAfm, with a panel of experts commenting immediately afterwards. SABC Digital News will stream the speech live on their website, as well as their YouTube page.
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