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Budget Statement: Minister Godongwana Fails to Turn the Economy Around

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Budget Statement: Minister Godongwana Fails to Turn the Economy Around

Budget Statement: Minister Godongwana Fails to Turn the Economy Around

2nd November 2023

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The IFP remains deeply concerned about the state of our nation and the continued mismanagement of our economy by the ruling African National Congress (ANC).

The IFP wishes to underline that there is nothing to celebrate in the Medium Term Budget Policy Statement (MTBPS). The future of our beloved country is looking bleak, with an economic outlook that offers little hope. 

The issues of escalating debt, the ever-increasing cost to service this debt, and the alarming debt-to-GDP ratio are alarming signs of a government failing in its fiscal responsibilities.

Government recently highlighted that the country does not have money yet we are continuing to borrow money, therefore digging our country into a debt hole that will leave the young people of our nation with nothing when inheriting this economy. 

In his address, Minister Godongwana failed to address one of the most pressing issues facing our nation – job creation. 

South Africa's unemployment crisis continues to worsen, and we have heard nothing concrete from the ANC-led government on how they plan to create jobs for our struggling citizens. 

The expansion of the Presidential Stimulus program, in our view, is not a genuine source of job opportunities but merely a political tick-box exercise. While we welcome it we note that this is simply placing a band-aid on a larger problem. 

We are not surprised that the MTBPS appears to be yet another empty promise by a government that has consistently failed to deliver on its commitments. 

South Africans are not lazy to work, they need a hand-up and not a hand-out. 

The ANC-led government has lost the trust of the people, and we, the IFP, share in the disappointment felt by millions of South Africans.

Our hope for a brighter future lies in the 2024 elections, when the IFP stands ready to take over the government and bring about the change we want to see in the lives of our people. 

Voting out this administration is the only path to fixing our economy and getting our nation back on track. We believe that South Africa deserves better than the empty rhetoric and hollow promises of the ANC.

The IFP remains committed to the people of South Africa, and we are determined to put the interests of our nation above politics. 

Our vision is clear, and we invite all South Africans to join us in building a prosperous economy, and an inclusive accountable government that truly works for the people. 


Issued by IFP Deputy President & Spokesperson on Finance Inkosi Mzamo Buthelezi

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