WATCH: Finance Minister delivers mid-term budget statement

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CAPE TOWN - Newly-appointed Finance Minister Tito Mboweni faces his first test on Wednesday afternoon as he's set to deliver his maiden mid-term budget statement in Parliament.

Mboweni was appointed only two weeks ago following Nhlanhla Nene's resignation.

On Monday, Cosatu said the finance minister needs to present a clear plan on how the government will "pull the economy from the doldrums" and create a new labour-intensive growth path.

In a statement, the union federation said while Mboweni was only in his second week on the job, "there will be no honeymoon for him" as it expected the former Reserve Bank governor to table a medium-term budget policy statement which would address the unemployment crisis currently facing the country.



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