Political stability after the general elections in 2024, low inflation, declining interest rates, and a steady supply of electricity appear to have done the task of boosting economic confidence, however Dawie Roodt, Founder, Director and Chief Economist of the Efficient Group said President Cyril Ramaphosa and the Minister of Finance Enoch Godongwana have to work hand in hand to ensure a better economic outlook.
Speaking to VOC News ahead of the State of the Nation Address that will be delivered by President Cyril Ramaphosa later today, Roodt said he expects more details around the implementation of a basic income grant to be announced.
“Ramaphosa will definitely speak about the Basic Income Grant and more details around the roll up will be shared during the budget speech. I think the idea can be supported; however, we just need a new system so that we do not see a several grants paid to one beneficiary. It must be done properly so that funds are not mismanaged,” he added.
Roodt further stressed that the biggest concern will be announced during the budget speech, as that would determine what the economic outlook would be for the next year.
“We are currently running a huge fiscal deficit, so state spending should also be relooked as too much money is being spent on government officials,” he added.
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