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On Wednesday 24 June, Finance Minister Tito Mboweni delivered an emergency supplementary budget speech.

To break down some of the key points, Kfm Mornings enlisted the help of The Money Show host, Bruce Whitfield.

RELATED | 10 key points from Mboweni's emergency budget speech

... the bottom line here is, we've run out of money... with COVID-19, and the shutdown and the economy, it's just made everything worse.

- Bruce Whitfield, Host of The Money Show

We are R32 billion behind where we should be in terms of tax collections which means for the year, we're likely to be R300 billion short... but we're not going to spend any less money this year. This is what was so irritating about yesterday's emergency budget, we haven't seen any big measures to slash and burn spending.

- Bruce Whitfield, Host of The Money Show

We're going to see a contraction in the economy. We're used to seeing the economy grow every year, that's what economies are supposed to do.

- Bruce Whitfield, Host of The Money Show

Listen to Bruce Whitfield's full breakdown of Tito Mboweni’s Supplementary Budget speech, below.

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