Budget Speech 2024

2024 Budget Speech: What to Expect and How It Will Impact South Africa

Get ready for the Finance Minister's Budget speech in 2024! From debt management to SME support, here's what's in store for South Africa's economic future.

In the upcoming 2024 Budget Speech, Finance Minister Enoch Godongwana faces a daunting task as he prepares to outline South Africa's economic, financial, and social direction. With key focuses on debt management, energy solutions, and economic growth strategies, the speech is anticipated to provide crucial insights into the country's economic destiny.

Following President Cyril Ramaphosa's State of the Nation Address (SONA) on 8 February, expectations are high as Darrin Green, Managing Director of AECOM in Africa, highlights the importance of the Budget Speech in fleshing out the details provided in the SONA.

Small and medium-sized enterprises (SMEs) are eagerly anticipating the 2024 Budget Speech, hoping for measures to address the current inflationary environment, high interest rates, and ongoing power challenges. The support and relief measures for SMEs are expected to play a significant role in boosting the economy.

As the nation braces for the Budget Speech, all eyes are on Finance Minister Enoch Godongwana, who is expected to address critical issues facing the country. From potential surprises to challenges like finding innovative solutions, the speech is set to reveal the government's strategies for the upcoming fiscal year.