Brace yourself – Mboweni’s first budget is going to sting

By Felicity Duncan

Tito Mboweni will be presenting his maiden budget on Wednesday, after just two weeks in the job. It's not going to be pretty. South Africa has very, very limited fiscal space right now. The country urgently needs to reduce its budget deficit and start lowering its debt burden, but it must also find ways to reduce the impact of the recession. And he must do all of this while contending with an above-inflation increase in the wage bill for civil servants and continued losses at SOEs.

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