Tuesday, October 27, 2009

Gordhan to table maiden MTBPS today

By Khanyisa Tabata
27 October 2009


Finance Minister Pravin Gordhan is expected today to deliver his Medium Term Budget Policy Statement.

This is the minister’s first MTBPS delivery since taking over from Trevor Manuel.

Economists predict that the National Treasury will announce a wider deficit which will come at around 7 percent from the 3.8 percent deficit documented in the national budget.

Earlier this year, South Africa entered its first recession in 17 years while the country’s second quarter Gross Domestic Product, released in August, contracted by 3 percent indicating that the economy was still in a recession.

The Democratic Alliance and the Congress of the People have called on Gordhan to show he is firmly in control of macro-economic policy.

The two opposition parties say Gordhan has a responsibility to show that "the centre will hold" and that the left will not be allowed to dictate economic policy.

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