MTBPS 2019: Agriculture left high and dry
30 October 2019
Agri SA is disappointed with the Medium-term Budget Policy Statement (MTBPS) that was delivered by the Minister of Finance, Tito Mboweni in Parliament today.
“Whilst the MTBPS does not include detailed spending plans or tax proposals[1], the Minister could have given more recognition to the role of the agricultural sector and the sector’s resilience in the face of many challenges, for example, the impact of longer-term droughts,” says Dr Requier Wait, Agri SA Head of Economics and Trade Centre of Excellence.
The MTBPS gave a report back and set out the context and assumptions that inform next year’s budget. Highlights from the MTPBS include:
National debt is increasing at an unsustainable pace: expenditure continues to exceed revenue.