Tito Mboweni’s rhetoric and a failure to show any real progress in reducing government expenditure saw financial markets vote with their feet in response to the medium-term budget. The market gave the medium-term budget framework a big thumbs-down, with the rand rapidly moving past the R15 a dollar mark as investors headed for the hills. Meanwhile, economic commentators bemoaned the government’s failure to make a dent in the R250-billion expenditure cuts it needs to make over the next three years…..more
Medium-term budget leaves SA globally vulnerable
