Medium-term budget: Plans to reinvest in infrastructure expected
An economist feels the country's new Finance Minister should dedicate some time to infrastructure development when he delivers his maiden Medium Term Budget tomorrow.
Tito Mboweni was sworn in as Finance Minister after Nhanhla Nene resigned in the wake of his testimony at the Commission of Inquiry into State Capture.
Sasfin Securities' David Shapiro feels Mboweni is aware of the challenges facing the local economy. Shapiro believes a complete rethink is needed to improve our finances.
He says the answer could lie in infrastructure programmes.
"To reinvest in building roads, bridges and hospitals and reinvigorating the institutions that make up the economy - that will probably be well-received. We haven't seen anything for years. There's been no reinvestment," said Shapiro.
"That is quite evident in a lot of the construction companies who bitterly complain about the lack of investment coming through from government," he said.
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