Mid-term budget speech 2017: Will Gigaba sink or swim?
Minister Malusi Gigaba has a lot to prove in his first ever mid term budget that will be delivered later today.
The general consensus amidst markets and investors internationally is that Gigaba is ‘not the most trusted’. The public appearance would be Gigaba’s one chance to reassure South Africans and prove his worth. However, with the current political situation and economic climate, it seems as though Gigaba has very little room to manoeuvre.
Focus will be on government expenditure and Gigaba’s task will be to prove that it has thus far been reasonable. Ratings agencies will also be focused on this budget speech, having already highlighted the slow pace of economic growth as a weakness to the country’s sovereign rating.