“The last-minute postponement was unfortunate. It gave rise to concern and uncertainty among South Africans, investors and the financial markets, who look to the Budget for important signals about the state and direction of our economy,” the President said. 

He further highlighted that the budget reflects government’s choices and priorities for the country’s development. 

“Decisions on how to spend public funds have implications for every South African. It is therefore essential that the concerns raised by different parties around the budget are properly addressed, in the interests of accountability, transparency and consensus-building,” he said. 

President Ramaphosa noted that this is the first time that the budget is being presented by the Government of National Unity. He said that it is understandable that this new arrangement would require a different approach in some respects. 
He told the nation that the process of forging agreement among the political parties in the GNU is still work in progress.

“Disagreements, contradictions and policy divergence are inherent in governments made up of several political parties. 

“It has been more than six months since the formation of the GNU. Despite disagreement between parties on a range of matters, the centre holds. It is a sign of a healthy and robust democracy that such differences may emerge from time to time and be ventilated in public. 

“Such differences don’t mean that the GNU is in crisis. It means that democracy is working. A Government of National Unity by definition infers consensus-building. No one party can impose its will. There needs to be thorough deliberation and meaningful engagement,” the President explained.

He added that the decision to postpone the Budget Speech and to continue discussions should engender public confidence in the GNU. It should reassure citizens that despite differences of opinion, government is pulling in the same direction. 

He further added that the reality is that government strives to implement national priorities in a context of slow growth, limited revenue, high unemployment and a large social wage. The state is simply not able to fund every priority and ambition. 

The President emphasised that the critical issue of the public purse must be a subject of discussion and debate not just among political parties, but among all South Africans who aspire to lead lives of dignity. 

“The social contract between government and the citizenry relies heavily on accountability and transparency. These have been features of our budgetary process since the advent of democracy. 

“The formation of the GNU was the result of the desire by the South African people that political parties work together to move the country forward. 

“As we continue to do so, we are adapting and strengthening our existing frameworks for cooperation, partnership and building consensus. We are learning, we are adjusting to new circumstances and we are moving forward,” the President said. –