Finance minister Tito Mboweni delivered the nation’s mid-term budget speech on Wednesday. He described the state of the economy as flat.
In February, economic growth for 2019 was predicted to be 1.5%. But now it’s expected to be just 0.5% for the year.
Mboweni said expected revenue stood at R1.73-trillion – R53bn less than expected.
He also touched on reducing government expenditure and providing bailouts for state-owned companies, while urging South Africans to pay their taxes.