Mboweni's budget does nothing for the poor – analysts
24 February 2021 - 20:03
Image: Esa ALexander/Sunday Times
Analysts have slammed finance minister Tito Mboweni’s budget, saying it will do little to improve the lives of ordinary South Africans.
Economist Duma Gqubule said the social grant increase announced by Mboweni was less than the 3.34% inflation rate which meant people would have less money in their pockets.
“Grants will reduce in real terms over the medium-term expenditure framework. There will be less money in the pockets of people who receive grants over the three-year period after taking into account inflation. Grants are increasing by 1.6%. Salaries [for public servants] are going to increased by less than inflation… I cannot think of any South African that will come off in a better situation because of this budget,” Gqubule said.