The government says tax revenue for the current year is expected to be significantly lower than the estimates in the 2019 medium-term budget. It has been revised down by R10.7 Billion.
The government needs to stabilise its state-owned enterprises to stimulate economic growth.
Professor Jannie Rossouw of the University of Witwatersrand’s department of economics says Finance Minister Tito Mboweni should announce decisive plans on how to deal with under-performing state-owned enterprises.
As Finance Minister Tito Mboweni puts the final touches to his budget speech, about 200 unemployed will on Wednesday march to the Cape Town municipal offices as part of their programme of action under the slogan “the cry for the excluded “.
Finance Minister Tito Mboweni will present what many say will be the most important budget of the democratic era in Parliament on Wednesday.