Analysts expects Finance Minister Enoch Godongwana to promote fiscal discipline and controlled spending in his Medium-Term Budget Policy Statement

By Kouthar Sambo

Analysts expect Finance Minister Enoch Godongwana to promote fiscal discipline and controlled spending in his Medium-Term Budget Policy Statement, which was delivered on Wednesday.

Some concerns are mounting, and are linked to budget risks linked to the May elections, leading to cautious optimism about the Government of National Unity (GNU). Speaking on VOC’s PM Drive show on Wednesday, economist Ulrich Joubert echoed the sentiment of “cautious optimism” following the minister’s Medium-Term Budget Policy Statement.

“The reaction of the parties part of the GNU was rather positive of the budget speech and some of the DA members said parts of the speech aligned with their view of fostering austerity and government finances, moving forward.”

“However, one of the major concerns is that ministers did not spell out how they were going to execute the austerity measures. He has highlighted that the elder in the civil services should take early retirement and replace them with younger and therefore the salary paid to the younger will be less than to the senior people,” outlined Joubert.

*Take a listen further as he delves into discussion.

Photo: @Treasury_RSA/X

Picture of Kouthar Sambo
Kouthar Sambo

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