File: Finance Minister Tito Mboweni will delivered his much-anticipated budget speech on Wednesday afternoon.
JOHANNESBURG - Finance Minister Tito Mboweni delivered his Budget Speech on Wednesday afternoon.
Below is a detailed list of highlights from Mboweni's speech:
Real GDP is set to grow by 0.3 in 2020 and future projections indicate that it is expected to grow in the next two years.
Cash-strapped South African Airways will receive another bailout.
Finance Minister Tito Mboweni says a stable electricity supply is government’s number one task. Treasury has allocated R230-billion over 10-years to restructure the electricity sector.
A new excise duty on heated tobacco products to be taxed at rate of 75% of the cigarette excise rate. Government also intends to tax electronic cigarettes in 2021.
Some major highlights from the Budget Speech delivered by Finance Minister Tito Mboweni on Wednesday include education receiving R 396.4-billion.
General fuel levy climbs to 16c / litre.
Finance Minister Tito Mboweni on Wednesday afternoon announced an increase in sin taxes.