Budget Speech 2022: EFF Wants ANC to Reject World Bank Loans, Protests Ensue

• Enoch Godongwana, the Minister of Finance, delivered the annual Budget Speech in Cape Town
• The EFF protested outside the speech venue to display their opposition to the World Bank loan which Godongwana recently secured for South Africa
• The EFF said that Godongwana should focus on direct investment from foreign investors instead of relying on big global financial institutions to assist South Africa

CAPE TOWN - Today (23 February), Enoch Godongwana, the Minister of Finance, delivered the annual Budget Speech in Cape Town. This was met by protests by different groups, including the Economic Freedom Fighters (EFF).

The EFF protested outside the speech venue to display their opposition to the World Bank loan which Godongwana recently secured for South Africa to cover the country's debts. The party believe that the ruling African National Congress (ANC) should not accept international loans.

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How the EFF thinks SA should be funded

Sinawo Tambo, a spokesperson for the EFF, said that Godongwana should focus on direct investment from foreign investors instead of relying on big global financial institutions to assist South Africa, SABC News reports.

“So we don’t expect anything new. We expect more promises as if these State of the Nation Addresses and Budget Speeches are the beginning of new terms.

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

South Africans react to EFF's Budget Speech protest

@ComradeCadre believes:

"Your protests are misguided. ANC applied for loans, IMF granted. NO one forces ANC, to apply for and, accept loans. EFF is becoming increasingly irrelevant."

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@Manoj91417366 said:

"Then tell people to work and produce, not dance and sing and destroy. The economy will improve and no need to take loans to bail out everyone including paying your salary."

@Balstrome remarked:

"11/10 of them will not understand what the speech means. But they are against it."

@CardMarcelle shared:

"Rent a crowd! Troublemakers trying to be relevant! Only thing this lot are good at!"

Mzansi's fuel price is above other African states, how fuel price is calculated

In other financial news, Briefly News previously reported that South Africans are still coming to terms with the fact the price of petrol has once again gone over the R20 per litre mark since December 2021.

Many citizens were outraged by the sharp increase in fuel, but their anger subsided a little bit when the fuel price decreased in January 2022.

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

Source: Briefly News