All eyes will be on Finance Minister Tito Mboweni this afternoon when he delivers the Supplementary Budget Speech to Parliament. The budget has been necessitated by President Cyril Ramaphosa’s announcement that government would spend R500 billion to support the economy’s resuscitation following the outbreak of Coronavirus. Mboweni will virtually deliver the budget as the country continues to observe lockdown regulations aimed at limiting the spread of the virus. The global pandemic has … [Read more...] about All eyes on Mboweni’s supplementary Budget
Tito Mboweni
COVID-19 response shifts to preserving the economy
Over the next month, the state will shift its response to the COVID-19 pandemic by preserving the economy, developing immediate recovery plans and pivoting the economy in a position of growth. This was revealed by Finance Minister Tito Mboweni on Friday during a press briefing in which he outlined a R500 billion economic support package. The package was initially unveiled by President Cyril Ramaphosa during an address to the nation on Tuesday. In May, government will focus on three … [Read more...] about COVID-19 response shifts to preserving the economy
Voice your opinion on the 2020 Budget
Finance Minister Tito Mboweni has invited members of the public to share their views about economic conditions and other issues they would like government to highlight in the 2020 National Budget. The Minister will deliver the budget on 26 February 2020 in the National Assembly. “As usual, the budget allocation always aims to strike a balance amongst competing national spending priorities. It is in this context that Minister Mboweni invites South Africans to share their views about … [Read more...] about Voice your opinion on the 2020 Budget
Mini-Budget – Good and Bad
Cost-cutting measures for bulging public sector wage bill Finance Minister Tito Mboweni has outlined a raft of cost-cutting measures that will see government save billions of rands in the public sector wage bill. Speaking in Parliament today, Mboweni said government has to significantly reduce expenditure in goods and services as well as transfers if it is to stabilise debt by 2022/23. The interventions will see the axe fall on various perks and salary increments frozen and later … [Read more...] about Mini-Budget – Good and Bad
Tito’s Medium Term Budget and the Aloe Ferox
The Aloe Ferox is a hardy South Africa succulent that Tito Mboweni presented to President Cyril Ramaphosa in May 2019 and used again during his mini-budget speech in Parliament today to explain the present situation in South Africa saying that we should turn back to 'our brothers and sisters in Africa'. The cynics in SA will say that the Aloe Ferox also represents all that is bad in politics today - slow growing, prickly, sour, inward focus and not sexy enough to attract much … [Read more...] about Tito’s Medium Term Budget and the Aloe Ferox
What are you doing at 14h00 today?
Live Stream from Parliament of the Republic of South Africa https://youtu.be/JNKAleKAYhg Watch the Medium Term Budget Speech live from 14h00 today. Live Stream from eNCA https://youtu.be/MQWbjaB5fR0 Finance Minister Tito Mboweni faces the tough task of balancing government's books when he delivers his medium-term budget policy statement. South Africans are anticipating an update today on the economy’s health as Finance Minister Tito Mboweni is scheduled to table the Medium Term Budget … [Read more...] about What are you doing at 14h00 today?
Treasury confirms mini budget date
Finance Minister Tito Mboweni will table the Medium-Term Budget Policy Statement (MTBPS) in Parliament 30 October 2019, said the Ministry of Finance. The ministry confirmed the availability and attendance of all principals for the tabling of the MTBPS -- also known as the mini budget -- next Wednesday. “The MTBPS plays a critical role in the overall budget process because it sets out the policy framework for the upcoming budget and provides the country and its elected … [Read more...] about Treasury confirms mini budget date
Treasury proposes additional R59bn for Eskom
Finance Minister Tito Mboweni has proposed additional funding support of R59 billion over the next two financial years to help the embattled power utility meet its financial obligations. The Minister said this when he introduced the Special Appropriations Bill aimed at assisting Eskom with additional financial support during a sitting of the National Assembly on Tuesday. “Although government has committed R23 billion to be allocated to Eskom over the next three years, Eskom’s funding … [Read more...] about Treasury proposes additional R59bn for Eskom
2019 Budget Speech – Brace yourselves for a tough economic climate ahead
The Coega Development Corporation (CDC) has welcomed the budget speech delivered by the Minister of Finance – Mr. Tito Titus Mboweni saying that the CDC supports the Minister’s sentiments, especially on “creating a sensible project pipeline.” The CDC has over the years worked tirelessly to develop a healthy investment project pipeline in the Coega Special Economic Zone. Investment promotion activities throughout the globe that have been undertaken by the CDC have resulted in tangible outcomes … [Read more...] about 2019 Budget Speech – Brace yourselves for a tough economic climate ahead
Have your say on SA’s budget
Finance Minister Tito Mboweni will deliver the 2019 Budget on 20 February and as per norm, the public has been invited to make inputs. In a statement issued on Thursday, National Treasury said there would be, as usual, a balance that must be struck to give attention to competing priorities. “It is in this context that Minister Mboweni invites South Africans to share their views about economic conditions and other issues they would like government to highlight in the Budget on the 20 … [Read more...] about Have your say on SA’s budget
Mini-budget a mixed bag for the property market
South Africans had high hopes for Finance Minister Tito Mboweni’s maiden mini-budget speech, particularly after his unexpected pre-speech engagement with the public on Twitter. Subsequent reactions, however, have been less than optimistic, following announcements that included rising budget deficits, tax revenue shortfalls, increasing gross national debt and a downgrade in economic growth projections. Short-term results have included an almost immediate dip in the rand and plummeting hopes … [Read more...] about Mini-budget a mixed bag for the property market
Mboweni digging us out of state capture holes
OUTA has welcomed most of Minister Mboweni's mid-term budget but is disappointed at another SAA bailout and the insistence on retaining the failed e-toll scheme. The Organisation Undoing Tax Abuse (OUTA) welcomes the bulk of Minister Tito Mboweni’s mid-term budget as a laudable attempt to tackle South Africa’s financial crisis and clean up the mess left by the Zuma administration. “This is an economy-stimulating, corruption-fighting speech that recognises the need to deal with declining … [Read more...] about Mboweni digging us out of state capture holes
Tito Mboweni and his Medium Term Budget Promises – Huge Shortfall Predicted
Newly appointed South African Finance Minister, Tito Mboweni is currently busy with his Medium Term Budget Speech in Parliament. Below are some of the highlights so far: https://youtu.be/tdGpOFmLUAI Growth outlook revised downwards South Africa’s growth outlook has been revised downwards to 0.7% in 2018, said National Treasury on Wednesday. “The National Treasury forecasts that GDP growth will slow to 0.7% in 2018, down from 1.3% last year, before rising to 1.7% in 2019 and 2.1% in … [Read more...] about Tito Mboweni and his Medium Term Budget Promises – Huge Shortfall Predicted
