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All systems go for budget 2016 - Zuma

FEBRUARY 24, 2016
All systems go for budget 2016 - Zuma

"It's all systems go for Budget 2016", President Jacob Zuma said on Tuesday ahead of Finance Minister Pravin Gordhan's much anticipated budget speech.

Gordhan is facing his toughest act yet on Wednesday after he returned in December to the portfolio he held from 2009 to 2014 in a turbulent week when President Jacob Zuma fired Nhlanhla Nene and appointed untested David van Rooyen, only to replace him four days later with Gordhan.


The event, known as Nenegate, shaved off more than R150bn off the markets and the rand fell to almost R18/$. Gordhan's appointment has since brought calm to the markets, with the rand trading at its best levels for the year at around R15.40/$.

According to the Presidency, Zuma met with Gordhan and Deputy Finance Minister Mcebisi Jonas to discuss the final touches to Budget 2016. "It's a difficult year and a difficult period globally and locally due to the economic slowdown. The minister and his team have done their best and the budget to be presented tomorrow on our behalf as Cabinet is good for the country and good for the economy. It’s all systems go for Budget,” said Zuma.


Source: http://www.fin24.com/Budget/all-systems-go-for-budget-2016-zuma-20160223