Finance Minister Malusi Gigaba is delivering the 2018 Budget speech in Parliament on Wednesday.
Cyril Ramaphosa took over last week from the scandal-plagued Jacob Zuma, raising hope for a turnaround in the economy that slid into recession in 2016 and has grown only tepidly since.
Over the past nine years under Zuma, South Africa experienced subdued growth, ballooning national debt, decreased investor confidence, record unemployment levels averaging 27% and bond downgrades to junk status.
The government will have to raise at least R30-billion from taxes to finance, among other things, free university education for students from low income families — a policy abruptly announced by Zuma on the eve of his departure from the ANC presidency last year.
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Finance Minister Malusi Gigaba is delivering the 2018 Budget speech in Parliament on Wednesday.
Cyril Ramaphosa took over last week from the scandal-plagued Jacob Zuma, raising hope for a turnaround in the economy that slid into recession in 2016 and has grown only tepidly since.
Over the past nine years under Zuma, South Africa experienced subdued growth, ballooning national debt, decreased investor confidence, record unemployment levels averaging 27% and bond downgrades to junk status.
The government will have to raise at least R30-billion from taxes to finance, among other things, free university education for students from low income families — a policy abruptly announced by Zuma on the eve of his departure from the ANC presidency last year.
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