LUKANYO MNYANDA: Inertia on debt could eventually put Reserve Bank in a tight spot
Too many vested interests don't see any urgency in closing the mouth of the hippopotamus
The budget unveiled by finance minister Tito Mboweni on Wednesday was similar to his previous ones in that it read more like a campaign document than a firm policy prescription. No wonder the ratings companies are not impressed.
There’s no doubting the minister’s good intention. The lack of credibility derives from the final decisions not being up to the Treasury, and it having a mountain to climb as far as getting the rest of the government to buy into its vision. There are too many vested interests who don’t see any urgency to, in Mboweni’s words, “close the mouth of the hippopotamus”.