South African Budget 2015: Two Cheers for the Minister’s Maiden Speech

SOUTH AFRICA - Report 26 Feb 2015 by Iraj Abedian

Minister Nhlahla Nene presented his maiden Budget Speech yesterday in the midst of much “expected surprise”. His government faced a complex blend of domestic and international challenges. Personally, also, he had to take a stand, come out of the shadows of the previous two Finance Ministers under whom he had served as deputy minister, showcase his “political capital” and reveal his fiscal strategy as part of building his credibility. Back in October 2014, and as part of his Medium Term Budget Policy Statement (MTBPS), he had promised to follow a path of fiscal consolidation.Since then, m...

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