WATCH: Budget 2017 could be tough balancing act

2017-02-21 17:24
Tumisho Grater of Novare. ~ Supplied

Cape Town - Budget 2017 could be a tough balancing act for Finance Minister Pravin Gordhan on Wednesday, according to Tumisho Grater, economic Strategist at Novare.

"If the budget is not seen as one to please the ratings agencies, there could be a weakening of the rand," she told Fin24.

"At the same time, if consumers end up having to pay more taxes, it would be another blow for them as they are still under pressure at the moment."

Grater also referred to President Jacob Zuma's recent State of the Nation Address (SONA) and his reference to radical economic transformation.

"Any economic transformation takes time. SA is on a path of fiscal consolidation and Budget 2017 will be a hard task for the minister to juggle," said Grater.

"He must make sure ratings agencies are happy and also that South Africans get bang for their buck."

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