On the 22nd of February in South Africa the Minister of Finance, Pravin Gordhan delivered the 2017 Budget Speech.
In this episode, we speak to Mr Bohani Hlungwane, Senior Vice President of Trade Finance at HSBC, based in Hong Kong to review the 2017 budget speech. He helps us look and analyse the budget speech from an international perspective. All the way from Hong Kong, He outlines to us the state of South Africa’s finance as compared to the rest of the world. He does not only stick to the budget but he looks into various aspects including the relevance of education, not to say education is not important but how to balance our skills acquirements as a nation. As well as the competition between the countries, to emphasize that we are no longer competing nationally but globally.
He bring insightful ideas on how we could grow the economy of the nation, what steps can be taken and a forecast in his idea on how long it would take us to reach a point where we are producing at least 5% growth in the economy. Among questions asked, we had to ask “if we already owing large sums of money and paying 169 billion in interest alone, why do we have to borrow more money, can’t we generate the money locally?