Mthuli’s Budget Highlights

The Minister of Finance is expected to announce the 2020 national budget on Thursday and here are the budget highlights according to the Herald:

  1. He is expected to maintain the 2% Intermediated Money Transfer Tax.
  2. Production goals are expected to be given priority
  3. Fiscal discipline will be maintained with the 2020 Budget, adjustable upwards by 30% to cope with inflation.
  4. The minister is expected to ensure that he maintains his primary Budget surpluses and restricts Government borrowing to the capital account
  5. The Budget is expected to announce measures that promote industry, mining and agriculture.
  6. The Budget will not announce any measures that will shock the market, but those that seek to grow industrial capacity and safety nets to cater for the vulnerable.
  7. Measures to address high transport costs will continue, with more Zupco buses set to arrive from South Africa, Belarus and China, while more kombis will be co-opted into the mass urban transportation strategy.
  8. Subsidies for public transport are to continue to be budgeted and tied to appropriate tax revenue.
  9. The 2020 Budget is expected to contain measures that ensure the objectives of Transitional Stabilisation Programme

More: The Herald

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