Home #SpecialBudget2020: What economists expect from finmin Mboweni’s emergency budget #SpecialBudget2020: What economists expect from finmin Mboweni’s emergency budget

#SpecialBudget2020: What economists expect from finmin Mboweni’s emergency budget

In the next three hours South African finance minister Tito Mboweni will reveal his emergency budget to help the country’s economy weather the COVID-19 crisis. What he has to do is re prioritise about R130 billion in government spending to make up the R500 billion package aimed at cushioning the blow to the economy. The stakes are high as the once mighty economy of South Africa teeters on the brink of a depression akin to that of the 1930s. Treasury warns that the economy could contract by between 5.4 and 16.1 per cent and up to 1.8 million jobs could be lost. Isaah Mhlanga