Deputy General Secretary Gretchen Humphries
The delivering of the budget speech on the 23rd of February 2011, came as the country and the world emerged from the worst economic recession since the great depression. The focus in the budget speech was on the need to establish a new growth path, not only to sustain economic recovery but also to meet the unique challenges of the South African economy.
In October 2010 Government in its MTBPS 2010 set out its expenditure and revenue plans for the next three fiscal years. A wide range of factors, ranging from the need to re-balance the economy after the deep recession, global developments and the need to make some inroads in our mass unemployment and poverty were addressed and also other issues such as the urgent need to step up service delivery and to eradicate corruption and fraud.
This year the budget 2011 updates and budget figures are aligned according to global and domestic economic developments and take on a more focused approach on job-creation based on the New Growth Path and the State of Nations Address.
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