On 21 February 2018, Finance Minister Malusi Gigaba will present the Budget Speech in Parliament at 2PM.
This is expected to be one of the highly watched and closely monitored Budget Speeches as South Africa is struggling with economic growth, credit ratings downgrade, unemployment, widening Debt to GDP (Gross Domestic Product), Budget Shortfall, and commitment to fund Fee Free Higher Education, political and economic uncertainty.
Gigaba will deliver his budget speech amid a growing budget deficit and slow economic growth. He also needs to plug the hole of the about R50.8 billion revenue shortfall. There are expectations for Gigaba to announce an increase in taxes to fund this shortfall.
Below we give a breakdown of the highlights surrounding the Budget Speech.
