The National Assembly has passed the 2019 Medium Term Budget Policy Statement and Adjustments Appropriation Bill.
Finance Minister Tito Mboweni said in his Medium-Term Budget Policy Statement in Parliament on Wednesday, that the number of public servants earning R1 million a year has doubled in the last three years.
There is much riding on the contents of this week’s budget speech. Perhaps a little more this time because of a slide into full-blown “junk” status, which is a very clear and present danger, writes Busi Mavuso.
Finance Minister Tito Mboweni’s budget speech may be one of the most important South African budget speeches of the past 20 years. Mboweni is under pressure to deliver bold reforms and to restore investor and business confidence, he may need to take some steps that will be unpopular with taxpayers and constituencies like the trade unions writes Yolandi Esterhuizen.
Finance Minister Tito Mboweni will have to race against time to implement government’s reforms in order to avoid a sovereign credit rating downgrade from ratings agency Moody’s.
Dominating business news this week was Finance Minister Tito Mboweni’s Medium Term Budget Policy Statement, and Public Enterprises Minister Pravin Gordhan’s Special Paper on Eskom.
COPE leader Mosiuoa Lekota says the government is making a fatal mistake by continuing to bail out state-owned enterprises.
Energy analyst Chris Yelland, has called on Finance Minister Tito Mboweni to provide clarity on the way forward with Eskom to allay fears from lenders over the future of the power utility.