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