I will also be working with my colleagues in the Cabinet to boost business restart efforts. This will ensure that implementation is well coordinated, sequenced and timeous. As ratio of GDP, it is unchanged at 14.6 per cent of GDP. The world is changing fast and to keep up you need local knowledge with global context. Our revised fiscal framework puts us on a course to stabilise the ratio of debt- to-GDP at around 95 per cent within the next five years. Mr President, our government, under your wise leadership, has championed the Infrastructure Fund to implementation. Today we embrace our higher purpose as citizens and leaders to take forward the vision of nation-building. R600 million goes to employ early childhood development and social workers. Altogether, the in-year revised main budget deficit is now expected to be R707.8 billion, a little better than the Special Adjustments Budget. Infrastructure is at the centre of the plan. Divisional managing directors and boards of directors have been appointed. Budget 2020 Presentation: Risk, Renewal and Growth (932kb) The Jobs Fund 2020 ... South African Revenue Service SARS Tax Statistics Davis Tax Committee South African Reserve Bank Financial Intelligence Centre Statistics SA Government Employees Pension Fund Bloomberg the Company & Its Products The Quint. A special word of thanks goes to the Deputy Minister of Finance, Dr David Masondo, and the Director-General of the National Treasury, Mr Dondo Mogajane, and the team for their courage, hard work and commitment. All rights reserved. Casparus Treurnicht: Gryphon Asset Management. The mid-term budget is essentially unchanged from the revised budget tabled in July. Debt service costs are revised down by R3.4 billion, in part because borrowing costs are lower than expected. This allocation is funded through reductions to the baselines of national departments, public entities and conditional grants. Deputy Minister David Masondo is leading this initiative, and a technical team, headed by Dr Sean Phillips, will draw on expertise and capacity from the public and private sectors. Madam Speaker, we must be careful to avoid the fate of countries like Argentina and Ecuador that defaulted on their debt this year. Johannesburg’s benchmark index sank 3.3%, the most since March 27, with just nine out of 141 stocks managing gains as the market closed at a four-month low. We must remove the needlessly complex red tape that increases the cost of doing. We act to instil confidence amongst discouraged work seekers, businesses bruised by lockdown and facing uncertainty, farmers and farm workers who produce the food for the country, and our international partners who know that South Africa is a great place to invest. We must discard those things that we no longer need to do and scale up those that are essential for progress. Armed with a strong sense of direction, steadfastness, resolution and determination, we face these perils head-on.

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