On Wednesday, Finance Minister Enoch Godongwana delivered his Medium-Term Budget Policy Statement (MTBPS). Unlike in the past when he was upbeat and jovial, the minister seemed sombre and contained.
The country’s economy is not doing well. By his own admission, the government forecast a 0.8% growth in real gross domestic product (GDP) in the current year. This is 0.1% lower than the projection made during the annual Budget speech he delivered at the beginning of the year.
