The Finance Bill 2020
Budget 2020/21 - Aggressive Government spending to boost the economy.
At the outset, it must be said that the context is unprecedented and that the conditions, especially with the lockdown, were not ideal to prepare a Budget that would meet the expectations of all stakeholders. Nonetheless, expectations were high as the Minister of Finance and Economic Planning and Development, unlike his predecessors, has an economics background and many were hoping that he would set him apart and make a difference.
Clearly the battle against the recession will not be won from this Budget alone. The real GDP is forecasted to contract by 11% and it is still too early to forecast the timing of the recovery and it now looks like 2021/22 shall be another difficult year indeed.
To read our full analysis please download our Budget Alert 2020/2021 below.