If Tito Mboweni plans to put SA on the right track, the budget will be a bitter pill to swallow
With his medium-term budget policy statement a fiscal Rubicon, the finance minister is having to grapple with hard realities
On October 30 finance minister Tito Mboweni will unveil the medium-term budget policy statement. This provides an update on budget performance in 2019 and critically also sets new revenue and expenditure targets for the next three fiscal years.
Mboweni, who was appointed just a little over a year ago, is having to grapple with the uncomfortable reality that SA has a serious fiscal problem with no easy solutions, no leeway to postpone tough decisions and no broad social or political consensus on what needs to be done. Thus, this medium-term budget policy statement represents something of a fiscal Rubicon for the country...
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