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World Business Report: First broadcast 21/02/2024 15:32 GMT : South Africa’s election year budget

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South Africa’s election year budget

First broadcast 21/02/2024 15:32 GMT 

First broadcast 21/02/2024 15:32 GMT : South Africa’s election year budget

BBC World Service - World Business Report, South Africa’s election year budget

Will today’s budget do enough to tackle its huge debt and unemployment problems?

South Africa's finance minister Enoch Godongwana has boosted welfare payments to more than 18 million people in his last budget ahead of May's general election.

South Africa faces several challenges with an economy that has barely grown in more than a decade amid rolling power cuts and problems with its railways and ports as it gears up for national elections on May 29.

Finance Minister Enoch Godongwana in his budget speech was under pressure to curtail the government's growing budget deficit while also maintaining spending, and keeping taxes low, in order to not put voters off.

Also, in the programme we will talk about Indian farmers protests and will find out why is Germany’s economy slowing down?

(Picture: South Africa's Finance Minister Enoch Godongwana. Picture credit: Reuters)

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