Mboweni unveils less steep path to consolidation while continuing to raise debt-crisis alarm

Finance Minister Tito Mboweni unveiled a significantly looser fiscal consolidation roadmap in the Medium-Term Budget Policy Statement (MTBPS) he presented to lawmakers on Wednesday when compared with the framework provided in his June Supplementary Budget. Nevertheless, he reiterated his message that “deep and wide” expenditure cuts were still required if the country was to avoid a debt crisis.

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