South Africa

MTBPS: Will Mboweni be able to close the mouth of the hippopotamus?

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The Medium-Term Budget Policy Statement is expected to be a stark and difficult statement of SA’s financial outlook.

PREMIUM!

MTBPS: Will Mboweni be able to close the mouth of the hippopotamus?

Caught between a rock and a hard place: Finance Minister Tito Mboweni. Picture: Michel Bega

Finance Minister Tito Mboweni’s medium-term budget policy statement (MTBPS) on Wednesday is likely to be a stark and honest portrayal of South Africa’s difficult economic situation. While there is little unknown about this, confirmation from the government is likely to be shocking, nonetheless, says Andrew Duvenage, managing director of NFB Private Wealth Management. Dr Elna Moolman, head of macroeconomic, fixed income and currency research at Standard Bank South Africa, says it is unlikely concrete new measures will be announced that directly affect consumers. “Any specific tax decisions will likely only be expected in the 2021 Budget and the government has...

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