Finance minister Tito Mboweni will later this week deliver the medium-term budget policy statement (MTBPS). In the Budget Review of the special adjustment budget delivered in June, his ministry suggested that the special budget was “a bridge to the [MTBPS] which will set out cabinet’s proposals to stabilise public debt and accelerate economic growth”.

The review expressed the hope that by October a fuller picture of the effects of the pandemic would have emerged. It is clear that this fuller picture is yet to crystallise into something we can look at, and whose implications we can fully understand...

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