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Gigaba's MTBPS: A Reflection Of Economic Mismanagement, DA Says

The party's David Maynier said Gigaba's presentation of the budget policy in Parliament on Wednesday reveals a "full-scale budget blow-out”.

25/10/2017 16:42 SAST | Updated 26/10/2017 06:48 SAST
RODGER BOSCH via Getty Images
David Maynier, a Member of Parliament with the DA.

The DA has slammed finance boss Malusi Gigaba's medium-term budget policy statement, calling it a reflection of President Jacob Zuma's "catastrophic management of the economy".

The party's David Maynier said Gigaba's presentation of the budget policy in parliament on Wednesday reveals a "full-scale budget blow-out".

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Maynier said the statement revealed a massive shortfall of R50.8-billion; a breach of the expenditure ceiling by R3.9-billion; and a "blow-out" in the budget deficit by R54-billion to R203-billion – or 4.3 percent of GDP – in the 2017/18 financial year.

"Worse, any prospect of the recovery now rests with a mystery presidential committee under [Zuma] who is ground-zero of the meltdown in the economy in South Africa," Maynier said.