Government to announce reforms for SOEs in Mid Term Budget

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Government will be announcing a number of reforms for State Owned Entities (SOEs) in the Mid Term Budget in October.

Deputy Finance Minister David Masondo says the country is facing serious expenditure challenges.

He says they have been recapitalising SOEs and tax payers are starting to ask questions.

He was speaking to delegates at the Tax Indaba 2019 Conference in Sandton, north of Johannesburg .

“We will be tabling the budget adjustments in October that will show different measures that we are undertaking in curbing the increasing expenditure and it will also be looking at how we sort out the SOEs because they have become a serious fiscal drain and there are a number of reforms that are going to be taken as far as these SEOs are concerned. We have already appointed a CR who will be undertaking restructuring at Eskom. ”