Tito Mboweni is expected to use the occasion to chart a way forward for the country’s economic recovery.
Finance Minister Tito Mboweni. Picture: @TreasuryRSA/Twitter
CAPE TOWN – Finance Minister Tito Mboweni will table his Medium Term Budget Policy Statement in Parliament on 21 October.
The National Assembly’s programming committee agreed to the date when it met on Thursday.
Mboweni is expected to use the occasion to chart a way forward for the country’s economic recovery.
He will take to the podium against the backdrop of an already struggling economy further battered by the COVID-19 pandemic lockdown.
His Medium Term Budget Policy Statement is highly anticipated, but is unlikely to contain much good news.
Mboweni is expected to spell out wide-ranging budget cuts aimed at reining in the government’s spiralling debt, as well as urgently needed economic reforms.
Also on the table will be the question of a R10.4 billion bailout for the bankrupt national airline, South African Airways (SAA).
Treasury has indicated there is no more money available, but the government has committed to finding the funds to launch a new SAA.