2019 Medium-term budget policy statement highlights

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The medium-term budget policy statement delivered in parliament by Finance Minister, Tito Mboweni, shows consolidated government expenditure will reach R6.3-trillion over the next three years.

A staggering R796bn of this will be going towards servicing the country’s debt, which is now at R3-trillion and will balloon to R4.5-trillion in the next three years.

Minister Mboweni set out steps as to how he planned to quell the rapidly ballooning debt.

He also took a firm stand towards Eskom bailouts, stating that money given to the SOE will take the form of a loan and will be expected to be paid back, while emphasising that the South African public needs to adopt a culture of payment.

He concluded that the budget should not be politicised, but should rather be used to bolster the economy for the good of all South Africans.
30 Oct 2019 9AM English South Africa News · Daily News

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