A tough but balanced budget, with more scope for offshore diversification
Malusi Gigaba’s 2018 Budget, delivered on Wednesday, was a tough one for everyone who pays taxes in some form or another in South Africa.
Malusi Gigaba’s 2018 Budget, delivered on Wednesday, was a tough one for everyone who pays taxes in some form or another in South Africa.
After years of contracting GDP per capita (in US Dollar terms South Africans have been getting poorer since 2011) some rationality is finally returning.
The text comes from a different universe to the flowery waffle Zuma-appointed finance minister Malusi Gigaba indulged in during his October mini-Budget address.
Although the political head gets all the media’s attention on Budget Day, the true architect of the country’s annual bookkeeping exercise books is the Director General of National Treasury.
As the year nears the end, many investors may simply want to forget the many events that affected market performance and not think about money until a new year dawns.