Finance minister Enoch Godongwana delivers his 2022 budget speech at the Good Hope Chamber in parliament, Cape Town, February 23 2022. Picture: GCIS
Finance minister Enoch Godongwana delivers his 2022 budget speech at the Good Hope Chamber in parliament, Cape Town, February 23 2022. Picture: GCIS

The market’s reaction to the budget tells you everything. Much of the good news was priced in. But, as the Budget Review reminds us, it’s important to remember how we got here — and to ensure that history does not repeat itself.

From 2008/2009, SA experienced more than a decade of stagnating economic growth, weighed down by long-standing structural constraints. At the same time, state capture drained the country’s confidence and resources. A series of economic shocks and unbudgeted expenditures resulted in a massive deterioration of the public finances. And then came Covid‐19. Let’s welcome our panel to review the budget after the dust has settled:  Mamello Matikinca, chief economist at FNB;  Dr Miriam Altman, economist and professor of 4IR at UJ;  Peter Attard Montalto, head of capital markets research at Intellidex; and Mathew Parks, parliamentary co-ordinator for Cosatu.

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