Finance minister Tito Mboweni will table his medium-term budget policy statement (MTBPS) before parliament today (30 October) and is expected to begin at 14h00.
The speech will be broadcast on SABC news channels, ENCA and the Parliamentary Services Channel on channel 408 on DStv.
The minister faces a challenging balancing act, having to balance government’s books amid sharp declines in revenue collection, and billions of rand being demanded by the country’s failing state enterprises.
He is also facing an uphill battle in an economy that is struggling to grow at higher than 1% per annum, while the country fights record-high unemployment levels.
The budget deficit is widening, the South African Revenue Service (SARS) is struggling to collect taxes, and the threat of a ratings cut by Moody’s Rating Agency.
Key on the agenda will be state owned entity Eskom, which is drowning in R450 billion worth of debt and has already been promised over R125 billion in government bailouts. Public enterprises minister Pravin Gordhan yesterday laid out a new business plan for the group, but admitted that the situation is dire however many of the country’s state companies face similar problems.
Mboweni could give a preview of this in his speech, along with how it could possibly boost revenues and stimulate growth.