Tag ArchivesMTBPS

Mike Teuchert, National Head of Taxation at Mazars

Tax increases may not be enough

The possible tax increases hinted at during last week’s Medium Term Budget Policy Statement (MTBPS) are likely to do very little to decrease Treasury’s R50.8 billion revenue shortfall – and may in fact ensure that even less revenue is collected next year. (more…)

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MTBPS likely to lead to rating downgrades before year end

by Johann Els – Senior Economist at Old Mutual Investment Group. Minister Gigaba’s first Medium-Term Budget Policy Statement missed the mark completely, raising the deficit and debt targets substantially without a plan to bring them back over the medium-term expenditure framework. (more…)

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

MTBPS paints bleak picture

The Medium Term Budget Policy Statement (MTBPS), presented in Parliament by Finance Minister Malusi Gigaba, paints a bleak picture: the expenditure ceiling has been breached, there is no primary surplus and debt and guarantees combined are above 60% of GDP.  Not only is the market likely to hate it, but Standard & Poor’s may well downgrade […]

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Mid-term budget speech 2017 ‘lacked concrete steps’

Treasury has not given a clear enough indication on how it intends to address its revenue shortfall, leaving experts to speculate that the majority of revenue will be financed by taking on additional debt. (more…)

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Prof Raymond Parsons

Budget comment: MTBPS ‘a holding operation’

The 2017 Medium Term Budget Policy Statement (MTBPS) is more of a holding operation than a bold plan to turn the economy around.  This is according to NWU School of Business and Governance Economist, Professor Raymond Parsons. (more…)

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Government to sell some Telkom shares: Gigaba

Government will dispose of a portion of its Telkom shares, Finance Minister Malusi Gigaba said today as he delivered his maiden Medium Term Budget Policy Statement speech in parliament. (more…)

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Minister Malusi Gigaba

Investors closely watching 2017 MTBPS

Investors will be looking to the Finance Minister Malusi Gigaba’s Medium Term Budget Policy Statement (MTBPS) this week to provide more certainty about the commitment of the government to fiscal consolidation, reform of State-owned enterprises (SOEs) and a higher economic growth rate. (more…)

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Ben Bierman, MD of Business Partners Limited

MTBPS: Economic growth crucial to SMEs

While local small and medium enterprises (SMEs) have many wishes for the upcoming Medium-Term Budget Policy Statement (MTBPS) that will improve the ease of doing business, none of these will be significant unless the ultimate outcome of the speech is improved economic prospects. (more…)

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