By: Natasha Archary

Finance Minister Enoch Godongwana is expected to deliver his Medium-Term Budget Policy Speech (MTBPS) on Wednesday, 01 November as the Rand’s strength hangs in the balance.
With the country’s debt sitting at almost R5 trillion, predictions are that Godongwana will adjust the budget and make emergency changes to spending.
Kaya Biz presenter, Gugulethu Mfuphi says research institute ETM Analytics highlighted the risks to the currency remains worrisome, will all eyes turning to the MTBPS this afternoon to determine if government has the appetite to implement urgently needed structural reforms.
“Godongwana is expected to share an update on the country’s fiscal positioning this afternoon, as well as future budget expectations for the next 3-years.
According to boutique financial market research from ETM Analytics, the local currency started off this week trading below R19 to the US Dollar, which comes as a surprise.
After 14h00, National Treasury is expected to outline interventions to reduce the economy’s national debt, update economic forecasts, adjust the budget and make emergency changes to spending.”
Gugulethu Mfuphi on Finance Minister Enoch Godongwana’s MTBPS
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