Keyword: Medium Term Budget Policy Statement

Minister Nene's Budget 2015 Exposes South Africa's Poor Economic Policymaking Agenda

Picture: South Africa Ebrahim-Khalil Hassen - Finance Minister Nhlanhla Nene, in his inaugural budget speech, offers this piece of wisdom, “The challenge of governance is to choose wisely between competing alternatives.”  This takeaway statement is as true of Minister Nene’s inaugural budget speech, as it is about each of his predecessors. However, underlying these choices is deep polarisation in South Africa. On the one hand, mainstream commentators from financial institutions are praising a lower than expected...

Nene's Medium Term Budget Fails to Get Balance Right between Fiscal and Social Responsibility

Picture: South Africa Ebrahim-Khalil Hassen - How do we measure the performance of the South African budget? The message from Finance Minister Nhlanhla Nene’s inaugural Medium-Term Budget Policy Statement suggests dual objectives. Minister Nene has cut the expenditure ceiling and capped spending on items such as advertising, travel expenses, catering and consultants. Balancing the books sensibly and attempting to ensure effective use of public monies will encourage investor confidence and also pay for the salaries and equipment...

Medium Term Budget Policy Statement: Building Up to Bold Decisions, But Time Is Not on the Side of the Poor

Picture: My Dream Course Ebrahim-Khalil Hassen - The Medium Term Budget Policy Statement (MTBPS) occurs in a deepening economic crisis; expressed most notably by the loss of over 1 million jobs in the last year. The prognosis going forward is dire, with government estimates on reaching our developmental goals painting a worrying picture.  According to official projections, as a society, we are unlikely to narrow the income gap, nor reach our employment targets. If there is a silver lining in South Africa’s Millennium Development...

Medium Term Budget Policy Statement: Follow the Pavement Placards for People Centred Budgets

Picture: Kool_skat_kat Liepollo Pheko - Driving past several Johannesburg traffic light intersections, one is constantly reminded of how unequal this country is. “Please Help. I need bail money for my cat,” says one board held up by a beggar. A recent one read, “Help me out. Need money for some weed, to pay my hooker and settle my beer bill.” They are eye catching and humorously worded, but the intent and concrete realities contained on those placards are desperate and require urgent intervention. As...