Citizen Reporter
1 minute read
11 Nov 2021
11:57 am

2021 Mid-Term Budget Speech live: ‘Pro-poor’ budget and tough love for SOEs

Citizen Reporter

Finance Minister Enoch Godongwana is delivering the Medium-Term Budget Policy Statement (MTBPS)


Live updates

Godongwana is tabling the policy statement amid the country’s gloomy and precarious economic position that was exacerbated by the Covid-19 pandemic.

Given the prevailing economic climate, economists have crystal gazed as to what the MTBPS could contain.

ALSO READ: Mid-term budget: Will e-tolls be scrapped?

No surprises expected from 2021 MTBPS

Previewing today’s mini-budget in a newsletter, First National Bank (FNB) economists said they did not expect any sign of deviation from the country’s current fiscal consolidation path.

Instead, they said the budget could highlight progress on critical policy considerations such as the Public Procurement Bill and implementation of the Zero-Based Budgeting framework.

“Our view is that this MTBPS will provide detailed progress made on growth-enhancing reforms that are already contained in existing policy documents, namely the National Development Plan, Treasury’s growth strategy paper and the Economic Reconstruction and Recovery Plan.”

Meanwhile, economist Peter Baur expects more spending on social benefits when Finance Minister Enoch Godongwana delivers the medium-term budget policy statement.

READ MORE HERE: Budget speech forecast: Economist expects more spending, no tax hike