Gordhan urged to reassure investors with mini budget

The Finance Minister will deliver his medium term budget policy speech in Parliament tomorrow.

FILE: Finance Minister Pravin Gordhan delivering his national Budget speech in Parliament. Picture: GCIS.

JOHANNESBURG - With Finance Minister, Pravin Gordhan, putting the finishing touches to his Medium Term Budget Policy Statement, the South African Institute of Professional Accountants (SAIPA) says he should focus heavily on creating economic stability.

Gordhan will deliver his speech in Parliament tomorrow after being charged with fraud earlier this month, a move which has been strongly criticised and has also added to the uncertainty that clouds the nation's economic outlook.

Last week, he told journalists that his main concern is preparing for the medium term budget.

In just over 24 hours, the Finance Minister will deliver what is expected to be the most highly anticipated medium term budget after suggestions of politically motivated charges being levelled against him, questions about his future being brought to the forefront and ratings agencies expected in the country soon.

The SAIPA's Ettiene Retief says Gordhan will most likely focus on issues of stability in his speech.

"I want to tell investors we are good to do business, we are on track not to be distracted by the other things happening around his position and around political affairs."

At the same time, 81 CEO's have pledged to support Gordhan and many have planned to be present during his court appearance scheduled for next week.