Wednesday, October 28, 2009

Pravin Gordhan’s budget statement lauded

By Ofentse Mokae
28 October 2009


Finance Minister Pravin Gordhan’s medium term budget policy statement has been broadly welcomed.

The African National Congress says it clearly articulates government’s commitment of to key priority areas, as pronounced by the ruling party.

The Democratic Alliance says Gordhan has passed his first test, but serious challenges remain.

The DA is concerned about the budget deficit which has doubled from February’s estimate, to seven-point-six-percent of gross domestic product.

GDP growth itself stands at minus-one-point-nine-percent, much worse than the rest of Africa.

The United Democratic Movement has lauded Gordhan for cracking down on wastage in government.

Meanwhile the African Christian Democratic Party broadly supports Gordhan’s balanced statement.

It says the Minister has provided the much needed assurance that government’s prudent fiscal policy will not be radically altered.

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