Finance minister Tito Mboweni has done the right thing for the country in cutting spending to ultimately reduce debt, but in doing so he has set the stage for social conflict.
The R300bn in expenditure cuts over the next three years are substantial and will inflict pain all round. It will not be the end of it though, as large expenditure reductions are anticipated for the next five to six years if the government is to achieve the stabilisation of debt by its new deadline of 2025/2026.
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WATCH: Tito Mboweni presents medium-term budgetFinance minister Tito Mboweni is due to present the 2020 medium-term budget policy statement to parliament
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WATCH: Tito Mboweni presents medium-term budgetFinance minister Tito Mboweni is due to present the 2020 medium-term budget policy statement to parliament
Source: BDliveSA - 🏆 12. / 63 Read more »
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