FINANCE Minister Enoch Godongwana is expected to deliver the 2024 National Budget Vote Speech in Parliament on Wednesday, 21 February.
The budget speech comes as the country is facing severe challenges, such as the high unemployment rate, the energy crisis, and terrible increases in the cost of living.
Though many have no high expectations about what the minister will share in his speech, political parties and unions have called for him to be practical.
Build One South Africa (Bosa) has appealed to Godongwana to prioritise just three aspects that are certain to drive up investor confidence, including the energy crises, safety and infrastructure.
Bosa said the country cannot run a business that creates jobs in the dark without electricity.
"Fixing the energy crisis and ending load shedding is straightforward; it only lacks political will," said Bosa leader Mmusi Maimane.
The Freedom Front Plus (FF PLUS) has called for the minister not to increase taxes but to reduce them across the spectrum to give the economy a much-needed injection.
"Spending on infrastructure must be prioritised. Actual plans must be announced on how the private sector can invest in infrastructure projects where the government doesn't have the money or the ability to develop or upgrade infrastructure," said FF Plus spokesman Wouter Wessels.
He said structural reforms are needed to remove the institutional obstacles to economic growth.
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"An example of this is restrictions placed on the private sector to create jobs and contribute to the economy," he said.
The African Transformation Movement (ATM) told Daily Sun that they anticipate Godongwana's budget speech will address pressing issues, such as implementing proactive policies and programmes geared towards stimulating job creation across various sectors of the economy.
"Specifically, initiatives must be designed to absorb the significant number of unemployed youths, fostering inclusive economic growth. We also expect him to allocate resources towards education and skills development, which is crucial in equipping young South Africans with the necessary tools to thrive in a competitive job market," said ATM spokesman Zama Ntshona.
The South African Federation of Trade Unions (Saftu) has made it clear that it's opposed to budget cuts on public services, local government, higher education and state-owned enterprises (SOEs).
The union said it expects the finance minister to stop the austerity programme.
"Cutting expenditure on public services has led to infrastructure backlog in schools, hospitals, clinics and correctional service centres and prevented these institutions from procuring necessary variable goods such as pharmaceutical products, learning and teaching materials," said Saftu secretary general Zwelinzima Vavi.
