Mboweni to deliver a difficult medium-term budget
  • 3 years ago
Its is as one pundit remarked this morning like walking across a swaying tightrope over a pit of hungry crocodiles without a balancing rod. At 2pm Tito Mboweni will have to balance finding money to help us recover from the longest recession in three decades, bail out state-owned companies and fund civil servants’ pay increases. And he has to do this against a backdrop of ambitious pledges to rein in government debt and shrink the budget deficit. Any austerity measures are likely to face opposition mainly from organized labour. Spending cuts and tax hikes could hinder the recovery of an economy that’s expected to shrink 8.5% this year, according to a Bloomberg news survey. eNCA Political Editor, Vuyo Mvoko unpacks this. Courtesy #DStv403
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