Financial markets were happy with last week’s medium-term budget policy statement (MTBPS), viewing positively its bid to double down on spending cuts to achieve debt stabilisation over the medium term. Civil society organisations hated the budget for the same reason. 

Most economists sit somewhere in the middle. While they are pleased the National Treasury has stuck to its guns on fiscal discipline, given the scary scaling up of debt service costs, many view the aggressive expenditure cuts proposed as implausibly large and politically fraught. ..

Subscribe now to unlock this article.

Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).

There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.

Cancel anytime.

Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.

Speech Bubbles

Please read our Comment Policy before commenting.