20 Jan 2015
Finance Minister Nhlanhla Nene has asked South Africans for their views on the upcoming Budget Speech and the general state of the economy.
Minister Nene will table his Budget Speech in parliament on 25 February.
Minister Nene has asked the public to contribute its ideas on how the dynamics of the country’s cities can be changed so it can improve living conditions, modernise transport and communications infrastructure and expand economic activity.
He also wants to know how government can reinforce support for exporting businesses and improve their competitiveness and by so doing increase the capacity of the economy to create more jobs.
Minister Nene also wants ideas on how to improve the country’s ability to expand the skills base of the economy.
In October last year, the Department of Finance said government had no option but to adjust expenditure and increase taxes so as to return the fiscus to a sustainable path.
“This decision was informed by the difficult economic environment, both locally and globally, as well as the high level of debt government has accumulated since the onset of the global financial crisis in 2008,” Minister Nene said.
The budget framework announced by the Department of Finance in October seeks to restore balance to public finances, boost investment and ensure government improves the efficiency and effectiveness of the expenditure of public funds.
“In line with the National Development Plan (NDP), our medium term objective is to ensure that government spending promotes economic growth and enables increased investment by the private sector,” the department said.