Mboweni should deliver a 'Resilient Budget' that prioritises growth
23 June 2020
Today’s reported rise in unemployment of an additional 344 000 people, bringing the total to 7.1 million, represents the state of the economy before the Covid-19 crisis and the full effect of the national lockdown.
National unemployment now stands at 30.1% on the narrow definition, and edges closer to 40% on the expanded definition.
The full economic devastation of the lockdown will only be reflected in statistics for the second quarter, released later this year.
When Minister of Finance, Tito Mboweni, delivers his Emergency Budget speech tomorrow, he must table a 'Resilience Budget’ aimed at helping South Africans brace for the full impact of the lockdown crisis on our economy.