If society’s stakeholder groups were asked to mark the recent medium-term budget, the markets and business would probably give it an A, economists a B and civil society groups an F for fail. Each would be justified in its own way. 

Business and the markets liked the medium-term budget policy statement (MTBPS) because the National Treasury was not swayed from its tight fiscal consolidation path by the noisy pushback from politicians and civil society. ..

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