Medium-Term Budget Policy Statement

Home/Tag: Medium-Term Budget Policy Statement

Cecil Kilpin | November 2021 Newsletter

By |2022-01-19T17:03:21+02:00Nov 25th, 2021|Business, Finance + Economics, Goverment, Newsletter, Tax|

Economic Outlook Below is a brief synopsis of the economic outlook as presented at the Medium-Term Budget Policy Statement (MTBPS). The South African economy grew faster than expected in the first half of 2021, but this momentum is expected to wane following public violence in July, port and rail disruptions, and the third wave of COVID-19 infections Real GDP is forecast to grow by 5.1 percent in 2021. Output is expected to return to pre-pandemic levels in 2022, a year earlier than estimated in February. This is largely the result of global demand, higher commodity prices and the easing of COVID-19 lockdown restrictions Household consumption has improved but has not fully recovered from the pandemic. Inflation is contained [...]

Comments Off on Cecil Kilpin | November 2021 Newsletter

Cecil Kilpin | October 2018 Newsletter

By |2022-01-20T14:41:44+02:00Oct 12th, 2018|Accounting, Business, Finance + Economics, Goverment, Newsletter, Tax|

Medium Term Budget Policy Statement (MTBPS) Nhlanhla Nene is the first victim of the “State Capture Enquiry”. Just twoweeks before presenting a critical MTBPS, he resigned after a massive public backlash regarding his initial non-disclosure regarding his meetings with the infamous Gupta family. His replacement, Tito Mboweni, has been well received by the markets and public in general. It would appear that his appointment will be positive for South Africa’s economic recovery , and we look forward to his budget speech presentation on the 24th October . While it appears a short time for him to pre-pare, Treasury has a contingent of experts who have prepared the necessary budgets in line with government policy. Minister Mboweni should slot in with ease! Fast facts on Tito [...]

Comments Off on Cecil Kilpin | October 2018 Newsletter

Cecil Kilpin | November 2016 Newsletter

By |2022-01-21T12:04:00+02:00Nov 1st, 2016|Newsletter|

Medium-Term Budget Policy Statement The Medium-Term Budget Policy Statement (MTBPS) is a government policy document that outlines the government’s fiscal policy objectives and spending priorities over a three-year period.The MTBPS also sets out the economic context in which the forthcoming budget (February 2017) will be presented.With the slow-down in the South African economy, tax revenues have fallen short of expectations. This means that government spending will need to be cut and taxes will need to be raised. The anticipated budget shortfalls are R36 billion and R52 billion in the next two years. Following a series of expenditure cuts, the MTBPS proposes a further R26 billion in reductions to the public expenditure ceiling over the next two years. New proposed tax measures amount to R13 billion [...]

Comments Off on Cecil Kilpin | November 2016 Newsletter
Go to Top