Finance Minister Tito Mboweni to present Medium Term Budget Policy Statement

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Finance Minister Tito Mboweni to present Medium Term Budget Policy Statement

Finance Minister Tito Mboweni to present Medium Term Budget Policy StatementFinance Minister Tito Mboweni is set to present his Medium Term Budget Policy Statement in Parliament on the 21st of October.

The date was agreed upon by the National Assembly’s programming committee after it met on Thursday.

On that day, the finance minister is expected to present a way forward plan that will be useful for the country’s economic recovery.

He will ascend the podium and table facts that will rescue the country from the already struggling economy further affected by the economic effects of the Covid-19 pandemic.

Although, Mboweni’s Medium Term Budget Policy Statement is highly anticipated but it is most likely to be sprinkled with some not-so-good news.

Mboweni will analyse the wide-ranging budget cuts aimed at reining in the government’s huge debt, as well as urgently needed economic reforms.

The question of a R10.4 billion bailout for the bankrupt national airline, South African Airways (SAA) is also expected to be discussed.

Treasury however indicated that there is no more money available, but the government said it is committed to finding the funds to launch a new SAA.

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