Medium-term budget elicits mixed feelings

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Medium-term budget elicits mixed feelings
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Medium-term budget elicits mixed feelings - The medium-term budget policy statement has received criticism and praise from civil society

of a portion of its close to R400-billion in debt. It was not specified how much of the utilities’ debt the government will take onto its balance sheet, but Godongwana said in his speech to parliament that the amount is expected to be between a third and two-thirds of the debt.

He continued: “This budget is a clear reflection that the government has run out of money and out of ideas.”, said it was disappointed that Godongwana failed to outline critical interventions to support South Africa’s hard-hit farmers. “This could impact treasury’s — and the minister’s — credibility going into the next budget policy, but overall, all other aspects of the statement were largely positive with a great mix including deficit reduction, debt ratio stabilisation and extra spending,” Els said.

“Extra spending for social grants and SOEs is looking affordable at this stage and should reduce risks in these areas too,” he added.

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