Malusi Gigaba, Nhlanhla Nene and Tito Mboweni have all been finance minister in 2018. As Mboweni, who was appointed just 16 days ago, prepares to deliver his maiden medium-term budget policy statement, the question many have is ‘whose budget is it really?’
Well, the answer isn’t that simple.
“He (Mboweni) is the face. He represents National Treasury and the finance ministry. His reputation is their reputation,” said CitiGroup Economist Gina Schoeman.
Schoeman said that the Director-General (DG) of National Treasury (Donda Mogajane) oversees the entire operation together with the deputy director-generals from various departments. The departments included in the decision-making process are tax and financial policy, budget office, assets and liability, economic policy and public finance.
Mboweni was appointed by President Cyril Ramaphosa after the resignation of Nhlanhla Nene. Nene resigned earlier this month after his testimony at the Zondo Commission where he revealed that he had meetings with the Gupta family.
Boarding a ship mid-sail, Mboweni had just over two weeks to prepare for the medium-term budget speech. Schoeman said he would not have had enough time to make significant changes to the budget and was expected to provide an economic growth forecast, which is coordinated by the economic policy division.
Mboweni earlier asked for input from South Africans. Here’s what they said.