WATCH: Treasury projects wider deficits, higher debt in MTBPS

The National Treasury has forecast wider budget deficits and higher debt due to lower revenue collection. It has pegged the consolidated deficit at 5% of GDP for the fiscal year that ends in March 2025, much wider than February’s forecast of 4.5%. Business Day TV sat down with Nedbank’s chief economist, Nicky Weimar, and Sars commissioner Edward Kieswetter to discuss the key takeaways from the medium-term budget policy statement.