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An interesting Budget for an interesting year
At the Medium Term Budget Policy Statement in October, Finance Minister, Tito Mboweni spoke of the need to reform and stabilise state-owned enterprises. The state faced a R27.4 billion revenue shortfall for 2018, and an R85 billion shortfall over three years. Debt service costs are expected to grow by almost 11% every year. The Minister now has a tough task ahead to present a Budget that will meet the public’s approval, while also coming to terms with the pressing need to grow the economy.
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