Listen: Finance Minister Tito Mboweni's full 2020 Budget speech

Finance Minister Tito Mboweni delivered his budget speech in Parliament this afternoon and seems to be resigned to the fact that South Africa will be downgraded to junk status by ratings agency Moody's. He refrained from any tax and VAT increases and said that persistent electricity problems will hold back growth. Over the next three years, government expects growth to average just over 1 percent. Learn more about your ad choices. Visit megaphone.fm/adchoices