---
title: "Ten things you need to know about Mboweni's MTBPS"
description: "Finance Minister Tito Mboweni presented the Medium Term Budget Policy statement in parliament on Wednesday afternoon. There is a lot you need to know and a lot of numbers to comprehend. Here are some starting points."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "MEDIUM TERM BUDGET 2019"
author: "Sasha Planting"
author_url: "https://www.dailymaverick.co.za/author/sasha-planting-2/"
canonical_url: "https://www.dailymaverick.co.za/article/2019-10-30-ten-things-you-need-to-know-about-mbowenis-mtbps/"
published: "2019-10-30T14:09:49"
updated: "2019-10-30T14:14:04"
lang: "en-ZA"
word_count: 159
---

# Ten things you need to know about Mboweni's MTBPS

> Finance Minister Tito Mboweni presented the Medium Term Budget Policy statement in parliament on Wednesday afternoon. There is a lot you need to know and a lot of numbers to comprehend. Here are some starting points.

By Sasha Planting · Published 30 October 2019, 16:09 SAST · Updated 30 October 2019, 16:14 SAST

## Content

1. Economic growth is projected at 0.5% for 2019, down from 1.5% in March, 2019, creeping to 1.7% in 2022
2. Consolidated government spending will total R6.3-trillion over the next three years
3. Expected tax revenue is R1.37-trillion for 2019/20, R53-billion, or 4% less than expected.
4. The consolidated Budget deficit is projected at 5.9% of GDP in the current year, averaging 6.2% of GDP over the next three years.
5. Debt‐service costs, wages and financial support for SOE’s are growing at 13.7% annually, double that of health, community development and economic development
6. In 2019/20 national debt exceeded R3-trillion. It is expected to rise to R4.5-trillion in the next three years.
7. As a proportion of South Africa’s GDP, gross debt rises from 56.7% in 2018/19, 60.8% in the current year to 71.3% in 2022/23.
8. The public sector wage bill accounts for 46% of tax revenue in 2019/20
9. The total revenue shortfall for 2019/20 will amount to R52.5-billion
10. Additional tax measures are under consideration. **BM**