Finance Minister Enoch Godongwana is tabling the Medium-Term Budget Policy Statement (MTBPS) in Parliament on 1 November 2023.
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South Africa: Godongwana's Medium-Term Budget Policy Statement Likely to Present a Gloomy Fiscal OutlookAnalysis - Fiscal consolidation is no longer on the cards. Government expenditure has exceeded revenue by about R200-billion this year, raising jitters that Treasury will have to borrow more to avoid a debt blowout.
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Medium-term budget: Godongwana may hint at Vat increase‘The only way is to spread the burden across all South Africans, not to target the rich. I think that he will lay that ground so that in February he’s able to increase the Vat,’ says economist and commentator, Dr Lumkile Mondi.
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Godongwana expected to juggle spending cuts with more borrowing in medium term budgetSouth Africa is both spending more than it was last year and taking in less in taxes.
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LIVE UPDATES: Finance minister Enoch Godongwana delivers mini budget speechFinance Minister Enoch Godongwana will deliver the Medium-Term Budget Policy Statement (MTBPS) on Wednesday.
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Mid-term budget: Godongwana urged to look at bigger pictureGodongwana gets advice from all sides not to increase VAT, scrap the SRD grant, or increase income tax. Will he then cut government jobs?
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Medium-term budget: Focus on cost cutting as state spending surgesMedium-term budget: Focus on cost cutting as state spending surges
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