Parliament Prepares to Host National Budget Speech 2024

Following the President’s State of the Nation Address last week, the Minister of Finance, Mr Enoch Godongwana, will present the budget allocation for 2024 to Parliament on Wednesday, 21 February at 14:00 in Cape Town City Hall.

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President Cyril Ramaphosa delivered the SONA 2024 last Thursday and outlined the national government’s plans to tackle the country’s energy crisis and other socio-economic challenges.

The budget address, among other things, aims to find a balance between economic growth and protection for our society’s most vulnerable members despite limited resources. During his address, Mr Godongwana will outline all of the government’s financial, economic, and social obligations that will be prioritised in its projected spending.

Minister Godongwana will provide a detailed expenditure plan for 2024, including suggestions for income collection to support the government’s planned interventions and commitments. He will also introduce the Appropriation Bill and the Division of Revenue Bill, which Parliament will consider in the coming months.

DETAILS OF THE BUDGET SPEECH AT CITY HALL:
DATE: WEDNESDAY, 21 FEBRUARY 2024
TIME: 14:00
VENUE: CAPE TOWN CITY HALL 

“For now, the main priority is to get inflation back to target”.

– Chris Loewald, head of economic research at the South African Reserve Bank

To read the full article, visit: Next week’s Budget Speech carries inflation risk, warns Reserve Bank.

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