PriceWaterhouseCoopers said on Monday that although most of the medium-term fiscal planning ahead of this event would have been completed before Minister Mboweni was appointed to his new job, the new minister will now be the face of the fiscus during trying economic times. The company said that South Africa was in a technical recession during the first half of 2018, and its business cycle is in the longest downward phase since records started in 1945.
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