The African National Congress (ANC)’s economic transformation head, Enoch Godongwana, says the ruling party has not taken a decision to expand the mandate of the South African Reserve Bank.
Finance Minister, Tito Mboweni, has denied any concrete plans to expand the Reserve Bank’s mandate, despite media being told that that was the case during a briefing of the party’s National Executive Committee Lekgotla.
Debt is not a replacement for domestic revenue mobilisation, says South African Reserve Bank Governor Lesetja Kganyago. He was delivering his opening address at the African Economic Research Consortium’s 50th bi-annual plenary underway in Cape Town.
The South African Reserve Bank is forecasting another contraction in GDP in the first quarter of this year largely due to electricity supply constraints and a strike in the gold mining sector.