Highlights From 2019 Budget Speech

2019-03-04

Minister of Finance, Tito Mboweni presented the National Budget, Wednesday 20 February 2019.

Minister Mboweni confirmed that his Budget Speech aligns with President Cyril Ramaphosa’s vision for the country. “It lays out a series of interventions that will put South Africa on a bold new path,” the minister said in his address.

In the 2019 State of the Nation Address, President Ramaphosa set out an ambitious agenda for our nation.

He said his government will undertake the following tasks:
  1. Accelerate inclusive economic growth and create jobs.
  2. Improving the education system and develop the skills that we need now and into the future.
  3. Improve the conditions of life for all South Africans, especially the poor.
  4. To step up the fight against corruption and state capture.
  5. Strengthen the capacity of the state to address the needs of the people.
Key take outs from the 2019 Budget Speech: He also confirmed that government is set to allocate R5,8tn over the next three years; R1,2tn will go towards education, R717bn to public health and approximately R900bn to social development.