National Treasury director-general (DG) Dondo Mogajane says the 2019 budget was a very difficult balancing act considering South Africa's tough economic situation.
Finance Minister Tito Mboweni delivered his maiden speech on Wednesday.
While some analysts are not encouraged by the minister's pronouncements and believe the country is heading for a downgrade, Mogojane disagrees.
I think we are in a tough situation and tough environment and the worst thing is if we don't do anything about it, then in that way we would be reckless and that will be a clear sign that we are not able to mange our finances and then a downgrade would have been possible.— Dondo Mogajane, Director-general (DG) - National Treasury
It's a very difficult balancing act that we had to make today, balancing what is available based on what the need is. Unfortunately what is available is not the same as what we need so as a result we had to do that balancing act.— Dondo Mogajane, Director-general (DG) - National Treasury
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This article first appeared on 702 : [LISTEN] Is this a stabilisation or a growth budget? Treasury DG weighs in