Economist Dawie Roodt says the medium-term budget policy statement due to be presented by Finance minister Tito Mboweni this afternoon will be filled with bad news. In June, Mboweni revealed that South Africa’s consolidated budget deficit is forecast to more than double to 15.7-percent of gross domestic product in the 2020/21 financial year and Roodt says the reality is that the country’s economy is in a deep state of depression.