Tito Mboweni
By Ian Matthews, head of business development and special projects at Bravura.
Next week finance minister, Tito Mboweni, will be delivering the mid-term budget policy statement which becomes a more daunting prospect each year. In South Africa’s shrinking economy where unemployment is at a 14-year high of 27.7% (or 37.2% if the definition of unemployed is expanded to include those too discouraged to look for work) and GDP has been revised downward to 1.2% by the Reserve Bank (or 1% according to predictions by the World Bank) there is very little wiggle room for fiscal policy to support growth. In light of this the question is: which eggs must be broken by the MTBPS 2018 in order to make the omelette? (more…)
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