Did the Budget Speech make cents to you?

Wa$ the budget $peech too good to be tRue?

Finance Minister Nhlahla Nene's first budget speech has been described by some as unclear and too optimistic.

Bruce Whitfield asked the Minister about South Africa's debt, something economists have openly stated concern about in the build up to his speech.

The annual debt grows from R115 billion to R153 billion, a hefty amount and that's why we are coming up with a package that begins to bring that into light.

Xolani Gwala spoke to Associate Professor of Economics at Wits Prof Christopher Malikane and Chief Economist at Efficient Group Dawie Roodt for analysis.

The Minister covered sin taxes, income tax, the fuel levy and a way forward regarding Etolls.

Both guests seemed to agree about the lack of transparency regarding Nene's budget and a lack of explanation of where some of the money needed will come from. Prof Malikane emphasized on the lack of transparency.

The budget highlighted one thing and that is we are in a crisis. I don't think the minister had enough answers to a lot of questions like where the money will actually come from that he spoke about. He didn't offer a solution to the Eskom problem, where we need about R50 billion per annum.

Economist Dawie Roodt echoed the Professor's sentiments about the optimistic budget speech and gave forecast of the debt rate.

The budget was a bit too optimistic, the minister has great plans but not enough clarity on where exactly the money would be coming from. We can predict that debt will reach new record high in the next financial year at this rate.

Our programme makers want to know where this budget hits you hardest... Your comments below please...


This article first appeared on 702 : Did the Budget Speech make cents to you?


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