What to expect from Pravin Gordhan’s (inordinately anticipated) “mini budget”

It is the hardest [Mid-Term Budget Policy Statement] ever. And it gets harder every year.

Thabi Leoka

On Wednesday Finance Minister Pravin Gordhan will deliver what could be the most anticipated Mid-Term Budget Policy Statement in South Africa’s history.

The Minister, who is facing his own legal battles, will present the “mini budget” at a time of severe economic strain.

How will Gordhan boost growth while cutting debt; thereby, hopefully, saving the country from a downgrade come December?

Will he hike taxes?

If so, by how much?

Who will be spared, and who will bear the brunt?

How will he address Fees Must Fall?

The Money Show’s Bruce Whitfield interviewed Thabi Leoka, Economic Strategist and Chief Investment Officer at Argon Asset Management.

Listen to Leoka’s expectations in the audio below (and/or scroll down for more quotes from it).

I don’t think tax hikes will be announced now. That will be revealed in the main budget.

Thabi Leoka

We can’t just plaster over something that needs us to solve it permanently. We did that last year with the 0% increase.

Thabi Leoka

Eskom has enough finances for this year, but it’s unsure what’ll happen next year.

Thabi Leoka

Slow growth is a problem for the ratings agencies.

Thabi Leoka

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Article brought to us by Old Mutual.


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