'Govt is borrowing huge amounts of money. Will it cut spending on salaries?'
On Wednesday, Finance Minister Tito Mboweni will deliver the most consequential “mini-budget” speech in democratic South Africa’s history.
Business articles trending on CapeTalk, right now:
Anxiety around the 2020 Medium-Term Budget Policy Statement (MTBPS) is palpable across the lockdown-smashed nation.
Zain Johnson asked Izak Odendaal what he expects from Mboweni and how he may attempt to stabilise South Africa’s spiralling debt and boost economic growth.
Odendaal is an investment analyst at Old Mutual Wealth.
… the interim budget in June… he promised more detail… We’re specifically looking at detail on the spending side of things… Government is borrowing huge amounts of money at the moment…Izak Odendaal, investment analyst - Old Mutual Wealth
To reduce borrowing, you’ll have to make spending adjustments… The key issue… is salaries paid to public sector workers…Izak Odendaal, investment analyst - Old Mutual Wealth
We want to see a move to zero-based budgeting… Every year you have to start from scratch in justifying the money you get from Treasury.Izak Odendaal, investment analyst - Old Mutual Wealth
Listen to the interview in the audio below.
"It applies to everybody. You have no choice," says Jan Truter of Labour Wise. "It comes at the worst possible time."Read More
The future is now different. The Money Show’s Bruce Whitfield interviews trends analyst Dion Chang, the founder of Flux Trends.Read More
It cannot stop its furnaces, so it must keep them going. Bruce Whitfield interviews Mike Arnold, CEO at Consol Glass.Read More
Treasury is mulling raising taxes, says Prof Adrian Saville, Chief Executive of Cannon Asset Managers.Read More
An economist expects China growth at 9.5%, US money-printing, rising metal prices and trade- and current-account surpluses in SA.Read More
Bruce Whitfield asks personal finance advisor Warren Ingram to explain in detail the new laws affecting provident funds.Read More
Germany has squandered its early success in restricting Covid-19, laments Deutsche Welle Correspondent Chelsey Dulaney.Read More
A new harvest is imminent and there's no more space for unsold wine. We have the highest stock level ever - Vinpro's Rico BassonRead More
A new scam is surfacing on Facebook and WhatsApp groups. The masterminds are even using the FSP number of a legitimate company.Read More
Loadshedding is another blow to the struggling restaurant industry. We need more relief says Grace Harding (Restaurant Collective)Read More