PwC focus on MTBPS 2019 – 30 October 2019

The finance minister laid out a morbid outlook for the fiscus in the absence of reforms - envisaged for announcement in the Budget Speech 2020

Finance Minister Tito Mboweni delivered a macabre Medium-Term Budget Policy Statement (MTBSP) to Parliament on October 30. The MTBPS communicates to government and the people the economic context of the country and fiscal spending priorities over the coming three years. (It does not include detailed spending plans or tax proposals, which are left to the main budget in February.) Minister Mboweni indicated that the MTBPS sets out plans to boost economic growth, reduce government expenditure, and improve the quality of fiscal spending. However, the latest version of the document reflects a significant deterioration in many fiscal projections. Admittedly, there are promises of hope for improved numbers in the Budget Speech 2020

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