Cape Town – The ears of many South Africans concerned about the financial state of the country will be perked up as Finance Minister Enoch Godongwana’s budget speech looms, with many economists feeling that Eskom and the electricity crisis plaguing the country will top the agenda.
Godongwana’s annual budget speech is set to take place on February 22, 2023.
South Africans will be most interested to hear about the electricity crisis, with load shedding affecting every aspect of their day-to-day lives. Eskom recently announced that stage 6 load shedding will be implemented continuously until further notice due to the breakdown of eight generation units and heavy rains.
According to Eskom, further stages of load shedding could be implemented at short notice, should coal supply constraints not be resolved.
The Tax faculty’s Dawie Roodt believes a key issue that needs to be addressed is Eskom’s debt.
“I think there are a couple of issues outstanding that the minister needs to address. Some of these issues are, first of all, what will happen to Eksom’s debt? Eskom owes about R400 billion worth of debt and the minister of finance indicated previously that he will take over some of this debt,” Roodt said.
Roodt also asked if South Africans would see a basic income grant, but added that the country could not afford it.
With the daily load shedding not only affecting the day-to-day lives of citizens but also having a disastrous effect on the economy, further damage could be done if current trends persist.
EWN reports that the Chief economist at Econometrix, Azar Jammine said that serious investments could be made into solar energy.
“National Treasury has indicated that intends providing subsidies to individuals and businesses to start investing more in solar energy,” Jammine was quoted as saying.
However, with renewable energy being more of a long-term solution to SA’s energy crisis, citizens of the country would perhaps be keener on a short-term solution in the meantime.
South Africans have expressed great agitation at having to deal with load shedding on a daily basis, having to adjust their days based on the load shedding schedule.
yo, that 8-12 slot is a menace. it’s literally 4 hour working days at this point, because even if you want to catch up after, there’s still loadshedding then
— nadeem (@thealoofmoola) February 21, 2023
I have to go to work now because we have loadshedding 10-3 ???♀️
— Nokwanda (@mwandie_ngcobo) February 21, 2023
? this is having flashes of electricity. Not load shedding.
— baba wa electric (@EnvyMetal) February 21, 2023
Loadshedding during tonight’s much anticipated #UCL clash between European giants Liverpool & Real Madrid under the Anfield lights. Do I opt for my small screen or go somewhere, where I can enjoy it in a proper screen? #VoetsekANC #VoetsekEskom
— Rudian ⚠️ (@RudianC) February 21, 2023
I hate those people who dislike talking about politics…
You literally use power banks and run for the Kettle, 2 minutes before loadshedding!
— K. (@itzkeegz) February 21, 2023
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Compiled by Junaid Benjamin
