Johannesburg
The South African government will unveil its fiscal 2021 spending plans Wednesday as the continent’s most industrialised economy grapples with the fallout from the coronavirus pandemic on top of a recession.
Finance Minister Tito Mboweni traditionally delivers his national budget speech alongside a potted aloe vera plant, highly resistant to drought, as a symbol of South Africa’s economic resilience. Resilience will be needed after a year of rolling restrictions on movement and business to curb the coronavirus outbreak.
“There’s not a lot of money and we need to have a pro-poor and pro-growth balance,” University of Johannesburg business lecturer Daniel Meyer told AFP.
Increasing taxes wont be an option, however, given the pandemic-induced losses and with local elections due this year.—APP
