2022 budget speech: EFF wants ANC to reject World Bank loans, protests ensue

  • Enoch Godongwana, Minister of Finance, delivered the annual budget address in Cape Town
  • The EFF demonstrated outside the venue of the speech to show their opposition to the World Bank loan that Godongwana recently secured for South Africa.
  • The EFF said Godongwana should focus on direct investment from foreign investors instead of relying on big global financial institutions to help South Africa.

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CAPE TOWN – Today (23 February), Enoch Godongwana, the Minister of Finance, delivered the annual budget speech in Cape Town. This was met with protests from different groups, including the Economic Freedom Fighters (EFF).

the EFF protested outside the venue of the speech to show their opposition to the World Bank loan that Godongwana recently obtained for South Africa to cover the country’s debts. The party believes that the ruling African National Congress (ANC) should not accept international loans.

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EFF, Economic Freedom Fighters, World Bank, loans, debt crisis, 2022 Budget Speech, Enoch Godongwana, ANC, African National Congress, politics, economics
The EFF protested the budget speech in Cape Town. Image: Twitter/ @EFFSouthAfrica
Source: Twitter

How the EFF thinks SA should be funded

EFF spokesman Sinawo Tambo said Godongwana should focus on direct investment from foreign investors instead of relying on big global financial institutions to help South Africa, SABC News reports.

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“So we don’t expect anything new. We expect more promises as if these state of the nation addresses and budget addresses are the start of new terms.

Because they don’t seem to remember that there are promises they made the year before that need to be kept,” Tambo said.

South Africans react to EFF budget speech protest

@ComradeCadre thinks:

“Your protests are misguided. The ANC asked for loans, the IMF granted. No one is forcing the ANC to ask for and accept loans. The EFF is becoming less and less relevant.”

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@Manoj91417366 said:

“Then tell people to work and produce, not dance and sing and destroy. The economy will improve and you won’t need to take out loans to bail out everyone, including paying your salary. .”

@Balstrome remarked:

“11/10 of them won’t understand what the speech means. But they are against it.”

@CardMarcelle shared:

“Praise a crowd! Troublemakers trying to be relevant! The only thing this bundle is good for!”

Mzansi fuel price is higher than other African states, how fuel price is calculated

In other financial news, In brief News previously reported that South Africans are still accepting the fact that the price of petrol has risen above the R20 per liter mark again since December 2021.

Many citizens were outraged by the sharp increase in fuel, but their anger subsided somewhat when the price of fuel dropped in January 2022.

However, on Wednesday February 2, the Ministry of Energy and Mineral Resources announced another fuel price hike that was just as drastic as the one many complained about in December.

Source: News in Brief

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