CAPE TOWN - President Cyril Ramaphosa is hailing the mid-term budget as a plan that will address many of the country's pressing issues.
Ramaphosa says the plan reflects a commitment to addressing key problems and moving the country in the right direction.
"It was a very solid budget speech, well-crafted, it has raised all the important issues," Ramaphosa said.
In his mid-term budget speech on Wednesday in Parliament, Finance Minister Enoch Godongwana announced a new inflation target for South Africa of 3 percent with a 1 percentage point tolerance band.
Ramaphosa said targeting inflation downwards will lead to interest rates coming down and lowering the costs of living in the country.