On Thursday Finance Minister Enoch Godongwana will deliver his very first Medium Term Budget Policy Statement (MTBPS) or mini budget since he took up his ministerial post at treasury.
Godongwana will have to inspire confidence in a nation that is struggling with rolling blackouts and a failure to bounce back from a covid affected economy. Added to the pressure and anxiety felt across the country will be the coalition talks amid the recent local government elections, a possible fourth wave of the coronavirus on the horizon and further restrictions that will hamper business further as they deal with the knock-on economic effects of the blackouts.
Business Day reports that Godongwana will need a bold budget, “a clear plan and tangible action on some of the most pressing problems facing the country.”
The finance ministry will have to have good policy and planning for resetting SA’s growth, dealing with ailing infrastructure and the ever-present issue of Eskom, how best use the tax windfall set to be around R160 billion, and reform health spending.
While Business Day columnist Hilary Joffe writes that one of the biggest questions that needs answering is that of outlook revenue.
“[Is] running way ahead of February’s rather conservative budget estimates thanks to the commodities boom and a stronger-than-expected economic recovery. Treasury figures for the first six months of the fiscal year to end-September suggest it is on track to collect north of R150bn more than its earlier estimates, PWC tax policy director Kyle Mandy calculates,” writes Joffe. (Subscribe to read)
Here’s a roundup of interesting opinions, analysis, and editorials:
Mini budget
CAIPHUS KGOSANA | Which of his two hats will Godongwana wear for his budget? His choice is SA’s future – Sunday Times Daily (Register to read)
Business
TRACEY DAVIES: There’s good reason to be suspicious of Mantashe’s latest brainchild – Financial Mail (Subscribe to read)
Blyvoor Gold Mine management must be taken to task for violating the Labour Relations Act – Daily Maverick
Many hands make lights work, so let’s give André de Ruyter all the hands he needs to make Eskom work – Daily Maverick
Oil hedging: Damned if you do, damned if you don’t – Daily Maverick
Election roundup
TONY LEON | Fasten your seatbelts, SA. It’s going to be a bumpy post-ANC ride – Sunday Times Daily (Register to read)
JUSTICE MALALA: Beware an ANC/EFF coalition – Financial Mail (Subscribe to read)
GARETH VAN ONSELEN: Coalitions and Herman Mashaba’s xenophobia – Business Day (Subscribe to read)
Melanie Verwoerd | Eye on 2024: What the ANC and DA need to worry about – News24 (Subscribe to read)
