The Minister of Finance, Tito Mboweni, will deliver the MTPBS on the 29th October 2019 at 14h00. This speech is seen by most as a watershed moment. If dramatic action is not taken to address all the current economic ills of South Africa, the ramifications could be dire with ratings agencies and international investors effectively turning their back on South Africa.
In the last year government attempted to address the following key issues with limited success:
- Growth enhancing reforms
- Re-prioritisation of public spending to support growth
- Enhancing infrastructure investment
- Addressing health and education issues
- Investing in municipal social infrastructure
State Owned Entities, however, remain the Achilles heel of government. With the likes of SAA & Eskom continually draining the fiscus, surely now is the time for radical change?The minister earlier in the year tabled treasuries proposed reforms for comment so it will be interesting to see what is unveiled on the 29th October.
As per usual we will review the minister’s speech and will keep you informed on the way forward.