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The 2021 Budget was tabled to Parliament on 24 February 2021 by South African Finance Minister Tito Mboweni.
The rapid changes experienced over the past few months and leading to the current relaxation of lockdown levels, has resulted in the South African economy’s recovery taking the shape of a ‘swoosh’ of a fast decline then a quick recovery that will take time to be fully realised.
Some attempts have been made by the government and NGOs to advocate for more equal rights for women. Few months ago, President Ramaphosa announced his new cabinet in which half of all ministers are women. However, the private sector has been slower on the uptake. The world of business is still very much dominated by men.
The outbreak of global pandemics such as COVID-19 comes with a huge price tag. The South African Reserve Bank estimates the current nationwide lockdown will cost the economy about three weeks’ worth of GDP, or 5.8% of R5.3-trillion, which amounts to a staggering R300-billion.