IN FULL: TITO MBOWENI’S MEDIUM-TERM BUDGET POLICY STATEMENT

Published on

By Liesl Smit


Add Smile FM on Google

Finance Minister Tito Mboweni delivered his medium-term budget policy statement in the National Assembly on 28 October 2020.

Mboweni said while the South African economy will contract by 7.8% this year, the economy is forecast to grow by 3.3% in 2021, 1.7% in 2022 and 1.5% in 2023.

He said President Cyril Ramaphosa’s economic construction recovery plan has ensured that the economy’s recovery will be accelerated.

Mboweni also confirmed the special R350 Covid-19 social relief of distress grant will be extended until 31 January 2021. R6.8 billion has been allocated to the Department of Social Development to extend this grant.

He also said it is not true that the R500 billion relief package has been entirely lost to corruption. He says it is being used to cushion the impact of the pandemic and aspects will continue to be rolled out over the medium term, particularly the Presidential Employment Programmes.

Read the full speech at the link below, or watch him live in action:

http://www.treasury.gov.za/documents/mtbps/2020/speech/speech.pdf

Liesl Smit
Liesl Smit
Liesl is the Smile 90.4FM News Manager. She has been at Smile since 2016, with nearly 20 years experience in the radio industry, including reading news, field reporting and producing. In 2008 she won the Vodacom Journalist of the Year Award, Western Cape region. liesl@smile904.fm

Latest articles

Previous article
The Western Cape Education Department has announced the appointment of Brent Walters, as the WCED Super-intendent General from 1 April 2021. He will replace Brian Schreuder, as Head of the Department, after a hand-over period.
Next article
South African Airways has been given the funds needed to restructure the airline as part of the government’s efforts to help state-owned entities. Finance Minister Tito Mboweni made the announcement while delivering his Medium-Term Budget Policy Statement in Parliament. R10.5 billion was allocated to SAA to implement its business rescue plan.

Cape Town to commence with annual beach lowering

Liesl Smit -
 The City of Cape Town will begin its annual beach-lowering programme in Muizenberg, Fish Hoek and Hout Bay from Thursday, 1 October 2026. This re-profiling...

UPDATE: WC Govt questions last-minute move of Heritage Day celebrations

Liesl Smit -
 The Western Cape Government has expressed concern following the "last-minute" and seemingly chaotic way national Heritage Day celebrations on 24 September have been moved...

DA hauls parties before the Electoral Court for “deliberately hiding” their candidates

Liesl Smit -
 The DA has filed an urgent application in the Electoral Court against ActionSA, the EFF, the MK Party and GOOD, alleging they are bending...