With revenue less than projected, soaring debt-interest costs and an underperforming economy. Finance Minister Enoch Godongwana has once again reiterated the fact that government spending has exceeded revenue since the 2008 global financial crisis – warning that the rising annual budget deficits have reached an extent where the government will borrow an average of R553 billion per year over the medium term. Godongwana also acknowledged that rising debt services costs are crowding out important social spending and the country’s economy has not grown fast enough to support increasing expenditure.



GUEST: Dr Dion George - DA Shadow Minister of Finance 

GUEST: UDM Deputy President Hon Nqabayomzi Kwankwa

 Inkosi mzamo Buthelezi, ifp mp

With revenue less than projected, soaring debt-interest costs and an underperforming economy. Finance Minister Enoch Godongwana has once again reiterated the fact that government spending has exceeded revenue since the 2008 global financial crisis – warning that the rising annual budget deficits have reached an extent where the government will borrow an average of R553 billion per year over the medium term. Godongwana also acknowledged that rising debt services costs are crowding out important social spending and the country’s economy has not grown fast enough to support increasing expenditure.
 
GUEST: Dr Dion George - DA Shadow Minister of Finance 
GUEST: UDM Deputy President Hon Nqabayomzi Kwankwa
 Inkosi mzamo Buthelezi, ifp mp

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