/ 26 October 2016

Read in full: Pravin Gordhan’s medium-term budget policy statement

Finance minister Pravin Gordhan operates on a two week cycle as he prepares to be ousted at any stage.
Finance minister Pravin Gordhan operates on a two week cycle as he prepares to be ousted at any stage.

Finance Minister Pravin Gordhan is in Parliament delivering the ministry’s medium-term budget policy statement.

The mini-budget comes ahead of Standard and Poor’s credit rating review in December. Rating agencies Fitch and Standard & Poor’s both have South Africa’s credit outlook at BBB- with a negative outlook, one notch above junk status. Gordhan is also expected to announce National Treasury’s views on growth prospects.

Read Gordhan’s full speech below.