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Cabinet welcomes Mboweni's plan to deal with public spending

Minister in the Presidency Jackson Mthembu said government was optimistic that if South Africans bought into the commitments detailed in the plans, the country’s economy would grow.

Finance Minister Tito Mboweni delivers the Medium-Term Budget Policy Statement in Parliament on 30 October 2019. Picture: @TreasuryRSA/Twitter

CAPE TOWN - Cabinet has welcomed Finance Minister Tito Mboweni’s Medium Term Budget Policy Statement (MTBPS), including tabled proposals to deal with excessive public expenditure.

Minister in the Presidency Jackson Mthembu gave a briefing about the outcomes of Wednesday's Cabinet meeting, which was held shortly before Mboweni presented the MTBPS to the National Assembly.

He said government was optimistic that if South Africans bought into the commitments detailed in the plans, the country’s economy would grow.

“The 2019 activity proposes measures that will arrest the public expenditure and the running debt to GDP. That’s what we welcome because if we don’t arrest public spending, we might be in dire stress.”

WATCH: 'SOEs must learn to stand on their own feet' - Mid-term Budget highlights

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