South African finance minister to walk budget tightrope

South African President Cyril Ramaphosa delivers his State of the Nation address at parliament in Cape Town on February 13, 2020. PHOTO | SUMAYA HISHAM | POOL | AFP

What you need to know:

  • Weak growth, deteriorating public finances including a swollen budget deficit, crippling power cuts and soaring unemployment still cloud the outlook.
  • All eyes will thus be on Finance Minister Tito Mboweni as he is expected to scale back public spending and find ways to raise revenue.
  • In the past five years, South Africa has posted it weakest growth rates -- never exceeding 1.3 per cent and in certain years falling below one per cent.

Cape Town,

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