MEDIUM-TERM BUDGET STATEMENT
Gordhan will need to show that this time the balance is exquisitely delicate
Citizens, investors and agencies will be watching how numbers stack up and talk of structural reform pans out, writes Hilary Joffe
When former finance minister Trevor Manuel tabled SA’s first medium-term budget in December 1997, he intended to make the budget process more transparent and predictable, and to open it up to public debate. As Finance Minister Pravin Gordhan gears up to table SA’s 20th medium-term budget next week, there is plenty of lively public debate, even if too little of it is about the tough choices that go into crafting the national budget. If the choices in 1997 were tough, they are much more so now. Gordhan can surely only envy the days when the president had the finance minister’s back, rather than trying to stab him in it, and when the political will and cohesion were there to make the choices that were needed. Now, much of the lively political noise is about his own position, with ratings agencies and investors watching closely to see whether the public purse will remain in safe hands, preferably Gordhan’s. It was his February budget that helped to stabilise investor sentiment and, alon...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.