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#MTBPS2018: 'Mboweni's mid-term budget'-drastic changes unlikely say economists

24 October 2018 8:43 AM
Tags:
Tito Mboweni
#2018Budget
Tito Mboweni Twitter

Will Tito Mboweni make any major changes when he delivers his mid term budget on Wednesday?

Finance Minister Tito Mboweni will deliver the Medium-Term Budget Policy Statement on Wednesday.

CapeTalk's Kieno Kammies spoke to Nedbank economist Dennis Dykes to find out what we can expect.

Read: [LISTEN] Here is what Agri SA and Cosatu expect from Mboweni's #MTBPS2018

The first thing that analysts are going to look at will be financial dynamics to see whether the deficits are going to be brought under control over the next three years.

Dennis Dykes, chief economist at Nedbank

Most analysts would say as long as you keep it under 4% this year and in the next couple of years keep at 3.5%, then it shouldn't be too negative for overall debt because we know the rating agencies are going to be all over these figures.

Dennis Dykes, chief economist at Nedbank

The credibility of the numbers will also be very important - do the revenue numbers make sense and is the government trying to keep expenditure under control?

Dennis Dykes, chief economist at Nedbank

Dykes dismissed speculation that VAT might go up saying that he doesn't think the finance minister will make big announcements in a mid-term budget especially not so close to the elections.

In a medium-term budget, they never really adjust taxation. There might be some hints of what they actually want to do going forward.

Dennis Dykes, Chief Economist at Nedbank

Meanwhile Mboweni took to Twitter asking South Africans what they would like him to announce during his Medium Term Budget Policy Statement.

To hear the rest of the conversation with Dennis Dykes, listen below:


24 October 2018 8:43 AM
Tags:
Tito Mboweni
#2018Budget
Tito Mboweni Twitter

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