Newly-appointed Finance Minister Tito Mboweni is presenting his medium-term budget policy statement in half an hour’s time. Mboweni is expected to focus on how government will balance increasing spending pressure against low revenue in a weak economic environment.
The Medium Term Budget Policy Statement (MTBPS) will be released by the Minister of Finance on Wednesday. While this is often presented as a ‘mini-budget’ it differs substantially from the annual budget released at the beginning of the year.
South Africa’s youth however bears the brunt of ailing unemployment figures and continues to remain vulnerable in the labour market.
SAFTU general-secretary Zwelinzima Vavi says newly-appointed Finance Minister Tito Mboweni must acknowledge the extent of poverty in the country and take practical steps to confront the problem.
Newly-appointed Finance Minister Tito Mboweni will on Wednesday announce government’s priorities and budget adjustments in his Medium-Term Budget Policy Statement.