National Treasury will table the 2022 Medium-Term Budget Policy Statement (MTBPS) on 26 October 2022 within a challenging global economic outlook.
In its World Economic Outlook released last week, the International Monetary Fund expects 34% of the global economy to be in recession this year or in 2023, up from just under 5% at the beginning of the year, notes Isaah Mhlanga, chief economist at AlexForbes.
A global cost-of-living crisis and debt distress in some emerging markets present challenges for policymakers. “Markets, investors, and credit rating agencies expect some solution to properly assess South Africa’s fiscal position and therefore credit rating.”US$8.5 billion Just Transition financing “In this respect, we expect very little to change in the MTBPS as all is encompassed in the economic and recovery plan, of which we expect an update of progress made since the February 2022 Budget,” said the economist.
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