Minister Godongwana's MTBPS: A boost for investors and economists

PROPERTY group, economists and trade union have reacted positively to the Medium-Term Budget Policy Statement (MTBPS) delivered by Finance Minister Enoch Godongwana on Wednesday.

- YOGASHEN PILLAY

PROPERTY group, economists and trade union have reacted positively to the Medium-Term Budget Policy Statement (MTBPS) delivered by Finance Minister Enoch Godongwana on Wednesday.

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Samuel Seeff, the chairman of the Seeff Property Group, said that the Medium-Term Budget Policy Statement (MTBPS) will provide some comfort to investors. “In particular, I welcome the news around public debt stability, and the potential to end on a primary surplus with a significant narrowing of the overall budget deficit”

Seeff added that he welcomes the new initiatives aimed at targeting efficiency and waste reduction, and of course the grey list exit. “Also welcome is the commitment to direct more resources towards infrastructure investments which could boost property values and development in areas receiving funding. A 1.2% growth rate would be welcomed, although not enough to really lift the economy and job creation; nonetheless, we would welcome that. We are also pleased that there are no immediate plans for further tax hikes, but remain of the view that property taxes are too high”