For the second year in a row, the Minister of Finance had to prepare the national budget with the continuing threat of Covid-19, amidst an uncertain international economic environment, the spectre of stagflation and the low confidence levels across the general population. With an expected budget deficit of 5.6% for 2020/2021 and unemployment rate at 9.2% and a Debt-to-GDP ratio of 95%, the Minister of Finance was tasked to propose, a sound, yet resilient plan to propel the country on an inclusive growth trajectory. We assess below his proposals on various fronts.
The Minister of Finance and Economic Planning and Development, Dr. the Honourable Renganaden Padayachy, delivered the 2021-2022 Budget speech entitled “Better together”.
In the attached presentation we outline the axes that the Finance Minister used to introduce his "Better together" budget plan and corresponding further information and analysis of the fiscal measures are then detailed. Please download our full commentary below.
Mazars Budget Highlights 2021-2022