Magazine

November 2017

Budget 2018: How much more can we bear?

Our Finance Minister delivered the 2017 MTIB to a worried and expectant South Africa. Unfortunately our worst expectations came true. He fumbled around trying to sound like they had a plan but the opposite shouted through what he neglected to say. He clearly knew that the budget deficit is a major problem, he knew that fiscal discipline is a defining factor in our quest to retain some sort of decent Sovereign Rating and, amongst others, he knew that cost cutting is the only way to raise the South African economy from the ashes, yet he did not address a single one of those issues.

This job is clearly beyond his expertise and capacity and, with all the most experienced people from the finance department and treasury either resigning, being suspended or having sold out to the state capture machine, there is not much for him to lean on. In this months edition we asked a few experts for their thoughts. Brace yourself, it is not positive.

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