SA’s 2017 Medium Term Budget Policy Statement

SOUTH AFRICA - Report 26 Oct 2017 by Iraj Abedian

This year's Medium Term Budget Policy Statement (MTBPS) was delivered by Minister Gigaba yesterday. This was of particular interest for a variety reasons. Most importantly, this was Gigaba's maiden budget policy statement, an opportunity to assess his political economy stance. Minister Gigaba was appointed in March 2017, in a political environment in which suspicions and speculations had been rife about President Zuma's intention to replace the much respected and experienced Minister Gordhan with an inexperienced young minister widely implicated in public sector fiscal extractions of the Gupta Family - broadly labelled as the State Capture. Speculation has been rife since March that Gigaba is internal to President Zuma's scheme of "Treasury capture". The Minister has denied the allegations, yet various investigative reports have linked him to the broader Zuma-Gupta abuse of fiscal resources and financial corruption within the public sector.

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