National budget speech could hold the key to boosting business and investors’ confidence in the economy - Mogajane

BUSINESSWhile the markets may have been underwhelmed by President Cyril Ramaphosa's recent state of the nation address (Sona), Finance Minister Enoch Godongwana’s budget speech this week could hold the key to boosting business and investors’ confidence in the economy. Ramaphosa, in his address on February 9, announced government plans to address South Africa’s energy crisis and the prevailing socioeconomic challenges. As such, on Wednesday Gondongwana will deliver this year's national budget in the National Assembly in the Cape Town. “Eskom’s debt is an albatross around the neck of the Treasury, and all eyes will be on the budget speech for details regarding the proposed solution to manage this debt. Mogajane indicated that close attention would be on the appointment of the new minister of electricity, and specifically the person's experience and capabilities for implementing government’s energy plans.
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