By: Gavin Smith, Head of Africa at deVere Acuma
The Budget reemphasized that there is no quick and easy solution to address the serious economic problems facing South Africa. This is especially true as the economy is likely to be further adversely affected by the slowing of many of the world’s major economies and that tax revenues in the country to bolster the government’s coffers for key projects have had to be officially revised down.
Many across South Africa will be asking whether the Budget really addresses the fundamental problems to put the country towards sustainable, long-term economic growth in an expedient manner. It can be reasonably expected that many will, unfortunately, conclude that it does not.
These people are likely to subsequently seek the established opportunities internationally to help create, build and safeguard their families’ futures.