Businesses receiving government’s funding support should subject themselves to the country’s labour market policies aimed to employ more South African youth, according to Finance Minister Tito Mboweni.
Finance Minister Tito Mboweni says COVID-19 expenditure has changed the fiscal framework and he will soon be tabling a new Budget Bill before Parliament. Mboweni says government will also postpone some of its programmes so that it can reallocate R130 billion in expenditure.
Following President Cyril Ramaphosa’s briefing Thursday night, where he announced some easing of lockdown rules aimed at getting the country’s economy started again, Finance Minister Tito Mboweni has further elaborated on the plans.
Alliance partners, the ANC and the SACP, have welcomed Finance Minister Tito Mboweni’s latest statement that South Africa would not consider international funding which would be accompanied by a structural adjustment programme.
South Africa is not looking for COVID-19 funding packages from the International Monetary Fund (IMF) that are accompanied by a structural adjustment programme, Finance Minister Tito Mboweni said on Tuesday.
Minister of Finance, Tito Mboweni and the National Treasury will brief the media on the recent announcements by Moody’s and Fitch to downgrade South Africa’s sovereign credit ratings.
Finance Minister Tito Mboweni says funds will be set aside to curb the impact of the coronavirus outbreak in South Africa.
The South African Democratic Teachers Union (Sadtu) says Finance Minister, Tito Mboweni, must desist from cutting the public sector wage bill.
Finance Minister Tito Mboweni has cautioned against relying on government employee pension savings as the only source of funding to rescue Eskom.
Finance Minister Tito Mboweni has proposed no further changes in tax rates – except annual adjustments in personal income tax brackets, levies and excise duties in line with inflation.