Tag: national debt

On Wednesday afternoon, the Minister of Finance, Enoch Godongwana, had the unenviable task of delivering the annual Budget Speech. Over the last year, and especially over the last few months, South Africa has taken one knock after another.

The past decade has not been easy for small and medium enterprise (SME) owners. GDP growth has been almost non-existent for most of the past ten years, and despite a widely held – and correct – belief that SMEs hold the keys to job creation and economic growth, they’ve largely been left to fend for themselves.

There will be no sudden arrival of the cavalry to rescue us and that will affect the socio-economic change South Africa needs anytime soon. The only solution going forward is private/public co-operation and, as harsh as the statement might seem, it’s necessary.

The June Supplementary Budget had already made it clear that South Africa was in a dire financial state. So, from that perspective, Finance Minister Tito Mboweni’s Medium Term Budget Policy Statement (MTBPS) offered very little in the way of surprises.

The Medium Term Budget Policy Statement (MTBPS) 2019 was tabled to Parliament on 30 October 2019 by South African Finance Minister Tito Mboweni.