Cape Town - The Cabinet has expressed confidence in the recently tabled 2024 National Budget, saying it would translate into economic gains, although it received criticism from many South Africans.
During a post-Cabinet briefing yesterday, Minister in the Presidency Khumbudzo Ntshavheni said the Cabinet was confident the budget allocations would pave the way for substantial economic growth, contributing to the restoration and enhancement of the country’s economic position.
“The Cabinet has welcomed the 2024 National Budget, which demonstrates the resolute commitment by the government to consistently manage the country’s economy and take tough decisions necessary to balance the deficit while promoting economic growth,” said Ntshavheni.
She said the Cabinet also welcomed the announced public-private partnership agreement between Sasol and Transnet to improve the reliability of rail transport.
“Under a five-year agreement, Transnet Freight Rail will use its fleet of 128 ammonia tankers to deliver ammonia from Sasol facilities to customers, and in return, Sasol will fund the maintenance and repair programme of the fleet,” said Ntshavheni.
The partnership aimed to advance work on the country’s freight logistics road map to turn the sector around.
“The Cabinet is confident that the National Budget allocations will translate into economic gains that rebuild our economic standing,” Ntshavheni said. She emphasised that the National Budget continued to drive critical priorities and support for the most vulnerable.
“It provides social assistance to improve the living conditions of poor, vulnerable,and underprivileged South Africans. These include unemployed South Africans and orphaned and vulnerable children living in child-headed households,” said Ntshavheni.