Tag ArchivesMTBPS

Reza Hendrickse, Portfolio Manager at PPS Investments.

MTBPS: When will SA turn the corner?

By Reza Hendrickse, Portfolio Manager at PPS Investments. The 2018 Medium Term Budget Policy Statement (MTBPS) has been aptly titled “The Economy at a Crossroads”, with Government facing difficult decisions in a tough economic environment. Recently appointed Finance Minister, Tito Mboweni, delivered his maiden MTBPS which spoke to some of these difficult decisions and ultimately […]

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tertius troost

MTBPS: Take-outs from Mazars

Corporate Taxes: By Mike Teuchert, National Head of Taxation at Mazars Corporate tax revenue collections were R6 billion lower than what was estimated, which is a result of the technical recession and in line with the current GDP growth outlook. Investment in South Africa’s corporate sector also continues to be strained, which is also a […]

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Arthur Kamp of Sanlam Investments

Medium Term Budget backs Ramaphosa’s stimulus plan

By Arthur Kamp, economist at Sanlam Investments.  Government’s 2018 Medium Term Budget Policy Statement (MTBPS) provides clear links between the medium-term expenditure statement on the one hand and, on the other hand, President Ramaphosa’s five growth enhancing reforms, namely: reprioritisation of expenditure support for job creation establishment of an infrastructure fund addressing pressing problems in […]

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Ian Matthews, Head of Business Development at Bravura

Has the Medium-Term Budget Policy Statement done enough to appease Moody’s?

Ian Matthews, head of business development and special projects at Bravura, comments on the medium-term budget policy statement (MTBPS) which was issued this afternoon. (more…)

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Maarten Ackerman

MTBPS: A to-the-bone honest budget

Maarten Ackerman, Chief Economist and Advisory Partner, Citadel Wealth Management. It was clear going into this Medium Term Budget Policy Statement (MTBPS) that is was going to be much tougher than previous years, simply because economic growth and tax revenues are so much worse than had been forecast. Economic growth expectations for 2018 have been […]

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Finance Minister Tito Mboweni

Mboweni digging us out of state capture holes – OUTA

OUTA welcomes most of Minister Mboweni’s mid-term budget but is disappointed at another SAA bailout and the insistence on retaining the failed e-toll scheme. (more…)

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Prof Raymond Parsons

MTBPS: SA’s growth outlook remains weak and vulnerable

“The latest Medium Term Budget Policy Statement (MTBPS) shows that SA’s fiscal arithmetic and growth outlook remain weak and vulnerable.  This is according to NWU Business School Economist, Prof Raymond Parsons. He adds that the economic and fiscal strategies outlined today by new Finance Minister Tito Mboweni are likely to have a mixed impact on […]

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Nazmeera Moola, co-Head of Fixed Income, Investec Asset Management

MTBPS laden with negative headlines but devil in the detail

By Nazmeera Moola, Deputy MD, Investec Asset Management. At first glance Finance Minister Tito Mboweni’s maiden Medium-Term Budget Policy Statement (MTBPS) does not paint a pretty picture and the market is likely to hate it. The headlines in particular are dreadful: the consolidated deficit rises to 4% this year, raising the spectre of a Moody’s […]

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