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Dr Corrin Varady, CEO of IDEA, praised the Finance Minister's announcement that he would be allocating R303 billion towards basic education. However he tell us his concern is that mixed signals or confused priorities will either lead to misspent or underspent funds at provincial level.

Government will continue its efforts to combat youth unemployment in South Africa. Billions of rands have been allocated to Presidential Employment Initiative.

The two-pot retirement policy reform has been years in the making. Individuals can begin withdrawing money from their pensions later this year. 

The Finance Minister announced that efforts are underway to enhancement the Social Relief of Distress (SRD) Grant. However, this enhancement has not yet resulted in the grant being increased. 

Millions of vulnerable people rely on social grants to survive every month. The finance minister has confirmed the grant increases for 2024 in his Budget Speech. 

South Africa's economy showed weak performance, resulting in a sharp decline in tax revenue collection in the last financial year. To address the immediate fiscal pressure and support faster debt stabilisation government has proposed several tax increases

The number of unemployed people living in South Africa increased in the final three months of the year. This was revealed by Statistics South Africa earlier this week. 

Millions of individuals are anticipated to eagerly anticipate the 2024 Budget Speech, where it is anticipated that the finance minister will reveal updates on the government's implementation of the SRD Grant.


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