Medium Term Budget Policy Statement
latest news & developments
Godongwana forecasts better revenue, strikes optimist tone in medium term budget
The finance minister announced a lower inflation target of 3%, which the South African Reserve Bank has been pushing for
Budget: There are no rabbits in Godongwana’s hat
Debt service costs and civil servant wages account for 61% of total government spending, reducing budgets for, say, education, infrastructure and health
Equal Education says mid-term budget will entrench inequality
The advocacy group said despite highlighting infrastructure as one of its main pillars, the policy statement offered little in terms of commitments to fixing school…
Pragmatic, pinched budget statement dampens growth hopes
Finance minister Enoch Godongwana forecast 1.8% growth over three years, coupled with a bigger deficit, as debt service costs crowd out fiscal space
Treasury finds R95 million for SA’s genocide case against Israel
The funds have been allocated to the departments of justice and international relations to cover their costs in bringing the case before the International Court of Justice
No lifeline for Transnet or other ailing parastatals in medium term budget
Instead, Finance Minister Enoch Godongwana promised steps to ease the requirements for public-private partnerships
Mid-term budget: Godongwana introduces early retirement plan
An amount of R11 billion will be set aside to allow people early exit from public service
Mid-term budget: Godongwana maintains line on austerity
Finance Minister Enoch Godongwana has doubled down on the government’s fiscal consolidation efforts by reducing spending from 28.6% of GDP in the 2023-24 financial year to 27.6%…
Austerity is not only an economic issue, it’s a feminist issue
The medium term budget policy statement (MTBPS) on 30 October will lay out spending intentions for the next three years. This is the first chance the government of national unity…
Austerity measures will rein in South Africa’s growing debt
Accumulated gross debt is expected to stabilise at R6.2 trillion or 74% of GDP by 2026. The annual cost of servicing this deb in that year will be R440 billion
Gold and forex reserve is no pot of cash, says Kganyago
The Reserve Bank governor confirmed the central bank is in talks with the treasury over calls to tap the Gold and Foreign Exchange Contingency Reserve Account This content is…
UPDATED: Electricity Minister Kgosientsho Ramokgopa acting as finance minister
Finance Minister Enoch Godongwana has been battling illness
Tax hikes will not be dramatic
A senior treasury official told MPs the intention was not to close the widening deficit through higher personal income taxes
Mini-budget raises questions about SA’s growth prospects
Finance Minister Enoch Godongwana has emphasised the need to address supply-side constraints, such as the country’s energy and logistics crises
Mid-term budget: Tax hikes on the horizon
Increases will be announced in the new year to raise an additional R15 billion in revenue