Politics

LISTEN | Highlights from Tito Mboweni's mini-budget

30 October 2019 - 16:08 By Paige Muller
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Finance minister Tito Mboweni at the medium-term budget policy statement in the National Assembly, Cape Town, on October 30 2019.
Finance minister Tito Mboweni at the medium-term budget policy statement in the National Assembly, Cape Town, on October 30 2019.
Image: ESA ALEXANDER/SUNDAY TIMES

The medium-term budget policy statement [mini-budget] delivered in parliament by finance minister Tito Mboweni showed that consolidated government expenditure will reach R6.3-trillion over the next three years.

LISTEN TO THE HIGHLIGHTS:

A staggering R796bn of this will be going towards servicing the country’s debt, which is now at R3-trillion and will balloon to R4.5-trillion in the next three years.

Mboweni revealed how he planned to quell the rapidly ballooning debt.

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