Mboweni has little wiggle room for wrangling our fiscal fiasco
Raising VAT is politically expensive, cutting grants is socially disastrous, and defaulting on payments is economically unsound
With SA’s fiscus in a truly perilous shape, finance minister Tito Mboweni’s 2020 budget is the most critical of SA’s democratic period.
Our moment of reckoning has arrived. Despite progress on institutional rehabilitation over the past year, SA faces daunting economic problems: stuttering economic growth, poor business and consumer confidence, rising unemployment, persistent power rationing, failing state-owned companies (SOCs), yawning budget deficits and mounting public indebtedness...