GSB&L Webinar: UKZN Budget Speech

GSB&L Webinar: UKZN Budget Speech. Mr. Emile du Plessis, Head of Behavioural Economics and Economic Insights at Standard Bank Group, dissected the National Budget Speech 2023 during a webinar hosted by UKZN’s Graduate School of Business and Leadership (GSB&L). Dr. Bhaso Yalezo, a senior lecturer at GSB&L, moderated the discussion, offering insights into the implications for both business and society.

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Key Points: GSB&L Webinar: UKZN Budget Speech

• Economic Assessment: Du Plessis highlighted the precarious balance required in developing the national budget, emphasizing fiscal consolidation.
• Recovery Outlook: Despite some economic recovery, South Africa has not yet returned to pre-pandemic levels. GDP growth projections and the role of consumer demand were discussed.
• Taxation and Fiscal Policy: With limited room for maneuver in taxation due to consumer pressure, the government aims for a primary surplus for the first time since 2008. Fiscal deficits are expected to decline over the next few years.
• Eskom Debt Relief: Over 60% of Eskom’s debt is to be taken over by the government, aiming to alleviate pressure on the company’s balance sheet and enable necessary infrastructure investments.

Conclusion

The webinar concluded with a discussion on government spending and corruption issues. Du Plessis stressed the importance of accountability mechanisms, advocating for conditional releases of funds contingent on transparent spending and rigorous oversight.