Oct 31, 2020
The end of October 2020 saw the Hon. Minister of Finance, Mr Tito Mboweni finally giving the Mid-Term Budget Policy Speech (MTBPS) which had been earlier postponed. In the MTBPS, Minister Mboweni stressed that state-owned entities continue to present significant fiscal risks in the form of contingent liabilities and direct requests for state financial support. The COVID-19 virus was also identified as one pandemic that continues to be a major factor impacting economic and business activity in South Africa. It is therefore evident that we are far from being in an ideal economic position as a nation, and addressing these issues will require both decisive government action and the political will and determination to implement recommended turnaround strategies aimed at promoting economic growth and business activity.