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.
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 has not approached the International Monetary Fund (IMF) for emergency financing to help it fight the COVID-19 pandemic that threatens to push the economy deeper into recession, an IMF official said on Tuesday.
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.