SA Medium Term Budget Policy Statement

SOUTH AFRICA - Report 23 Oct 2014 by Iraj Abedian
New Minister, Old Promises and Familiar Measures South Africa’s new Minister of Finance tabled his maiden budget policy in the midst of many competing expectations. The Minister faced an unenviable balancing act of reviving a faltering economy with GDP growth down to 1.4%, and ever-rising popular expectations of better public service delivery. His immediate task, however, was to avert another credit down-grade. In many ways, it was a case of a “new minister but same old promises and fiscal measures”, although he delivered the message in the clearest tone possible. He emphasized that SA’s fi...

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