All eyes on Pravin Gordhan
The Finance Minister is expected to deliver his mid-term budget review in Parliament today.
CAPE TOWN - All eyes will be on Finance Minister Pravin Gordhan as he delivers his mid-term budget review in Parliament this afternoon.
The minister will be giving feedback on how the country is faring economically and will make forecasts about what lies ahead.
He will also reveal adjustments to the main budget he announced in February.
Gordhan is known for his ability to find the upside in difficult situations, but economist Iraj Abedian says the minister has little room in which to manoeuvre.
"This is a very difficult situation, arguably the most difficult position that the minister of finance has been in since 1994."
Another economist, Annabel Bishop, says Gordhan is also under political pressure.
"The pressure for government to deliver ahead of the elections, in terms of populist expectations, is quite high."
The minister has to reassure jittery investors and rating agencies that government spending is under control and make a smaller budget pie stretch that much further.