Hilary Joffe

Deputy finance minister says medium-term budget will enhance investment and not harm growth

DA leader John Steenhuisen spoke virtually to investors at the SA Tomorrow Investor conference in New York

DA leader John Steenhuisen spoke virtually to investors at the SA Tomorrow Investor conference in New York.

Enoch Godongwana, the finance minister, tabled the medium-term budget policy statement (MTBPS) on Wednesday with numbers that were worse in the

While the numbers are a bit worse than February's budget estimates, they are broadly on track

Corporate income tax is likely to be R11.7bn more for the full fiscal year, but VAT will be R13bn below February's estimates

Fitch is the first of the ratings agencies to publish a formal response to the MTBPS numbers, which were slightly worse than Treasury estimated in February

Proceeding with reforms will be more urgent than before, as will a more strategic approach to foreign policy

The government tapped the international market this week for the first time since April 2022, raising $3.5bn with the sale of dollar-denominated bonds to international investors.

The Bank has painted a more optimistic picture of growth, saying it expects a sustained improvement as reforms take effect