Global economic conditions have deteriorated somewhat since the publishing of the Medium Term Budget Policy Statement in October.
This is according to a statement from National Treasury, which adds that sentiment towards emerging markets has grown negative and developing countries are grappling with various challenges. South Africa still faces the challenges of lower economic growth, widespread unemployment and inequality.
Government’s budget in 2016/17 will amount to over R1,3-trillion and will be spent towards wages, goods and services, infrastructure and supporting the poor.
“There is a need to ensure that every rand government spends makes a differences in the lives of our people,” Treasury states.
“It is in this context that the Minister of Finance Pravin Gordhan invites South Africans to voice their views about their economic concerns and issues they would like government to highlight in the Budget on 24 February 2016.”
The minister is specifically inviting ideas on:
* The three things that government does very well;
* The three things that government should stop doing;
* The three areas that government spending should be directed to; and
* How South Africa can achieve inclusive economic growth?