In a significant move ahead of South Africa's most competitive election in three decades, Finance Minister Godongwana has unveiled a comprehensive budget strategy aimed at addressing the country's widening budget deficit and substantial debt. The government is contemplating utilizing a $26 billion reserve fund and has announced a series of measures to increase revenue by $793 million to mitigate immediate fiscal pressures. These measures include tapping into the country's gold and foreign-exchange reserves, while also increasing spending on essential services such as teachers, nurses, and welfare. Additionally, the National Treasury plans to introduce a new fiscal anchor to ensure a sustainable path for public finances in the long term. However, the budget also entails tightening fiscal discipline, which includes the loss of a portion of the debt relief previously allocated to the state power utility Eskom, due to its failure to meet certain conditions.
South Africa’s National Treasury plans to introduce a new fiscal anchor to provide a sustainable long-term path for public finances https://t.co/28q5e2w2dZ
South Africa’s National Treasury plans to introduce a new fiscal anchor to provide a sustainable long-term path for public finances https://t.co/6cPmL0Yt0b
Biden administration to forgive $1.2 billion in student debt for over 150,000 borrowers https://t.co/6aLyJSng74
South Africa’s state power utility Eskom will lose a portion of the debt relief it was previously allocated by the National Treasury after it failed to meet the attached conditions https://t.co/6bYQtWilEE
South Africa’s state power utility Eskom will lose a portion of the debt relief it was previously allocated by the National Treasury after it failed to meet the attached conditions https://t.co/PpbjETPook
South Africa’s National Treasury unveils a series of measures to boost revenue by $793 million to alleviate immediate fiscal pressures and plans longer-term changes to the tax regime https://t.co/1Yrt0Wbwti
South Africa delivered clear winners in its budget, but squeezed more revenue out of taxpayers. Here’s who’ll benefit from the pre-election budget https://t.co/lomayBtKcC
South Africa delivered clear winners in its budget, but squeezed more revenue out of taxpayers. Here’s who’ll benefit from the pre-election budget https://t.co/39pG3qPIdI
South Africa’s Finance Minister Godongwana taps the country’s gold and foreign-exchange reserves to steady its eye-watering debt, while boosting spending on teachers, nurses and welfare in a critical election year https://t.co/2UBGmi2wgY
South Africa’s Finance Minister Godongwana taps the country’s gold and foreign-exchange reserves to steady its eye-watering debt, while boosting spending on teachers, nurses and welfare in a critical election year https://t.co/vLSvYUKkUG
Follow live updates and analysis as South Africa unveils its latest budget https://t.co/nnV4Zf1827
White House cancelling $1.2 billion of student debt for 150,000 borrowers https://t.co/ZzU5zkCe9H
South Africa's finance minister faces the tough task of balancing fiscal discipline with voter friendly policies in the budget that's being presented ahead of the the tightest election in three decades https://t.co/LPva9Yji1K
With South Africa’s budget deficit widening, the government is considering tapping a $26 billion reserve fund. Should it go ahead? https://t.co/t71IWuXXTo