Keyword: budget 2014

Minister Nene's Budget 2015 Exposes South Africa's Poor Economic Policymaking Agenda

Picture: South Africa Ebrahim-Khalil Hassen - Finance Minister Nhlanhla Nene, in his inaugural budget speech, offers this piece of wisdom, “The challenge of governance is to choose wisely between competing alternatives.”  This takeaway statement is as true of Minister Nene’s inaugural budget speech, as it is about each of his predecessors. However, underlying these choices is deep polarisation in South Africa. On the one hand, mainstream commentators from financial institutions are praising a lower than expected...

Budget 2014: 'The Disconnect between Plans and Budgets'

Picture: Finance Minister Pravin Gordhan courtesy GovernmentZA/flickr Ebrahim-Khalil Hassen - Common sense suggests that budgets follow plans, not the other way around. Beyond the headline results of the budget, a closer look at the finance minister’s 2014 budget reveals significant contradictions and suggests a disconnect concerning the relationship between plans and budgets. Consequently, the minister’s budget allocations are far from optimal for us to reach the twin goals of reducing unemployment and decreasing inequality. Minister Pravin Gordhan once tabled the idea...