Finance Minister Enoch Godongwana has been suggested to be considering tapping into government’s reserves to close the gap between revenue shortfalls and growing State expenditure after he stated that it would run out of money before April.
CAPE TOWN - The Democratic Alliance said it would not support what it termed a "raid on the Reserve Bank" for government to fund its widening budget deficit.
Speaking in Parliament on Monday, the DA’s Dion George said government needs to make better choices to grow the economy and rein in wasteful spending.Godongwana is looking for money, but to take on more debt means spending more on borrowing costs. However, George said digging into the Gold and Foreign Exchange Contingency Reserve Account was not the answer.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
When will a bank charge a penalty to cancel a mortgage?Personal Finance | When will a bank charge a penalty to cancel a mortgage?
Read more »
The Finance Ghost: The market lowdown on Bytes, Balwin, Shoprite and AfrimatThe Finance Ghost: Read all the market news on Bytes, Balwin, Shoprite and Afrimat.
Read more »
South Africa: African Development Bank approves ZAR 2.7 billion subordinated financing and $150 million trade finance facility for Absa Group LimitedSouth Africa Today, News source, provides breaking news on South Africa, world, Africa, sport, travel and more.
Read more »
Cosatu calls for greater allocations for public service in MTBPS - SABC NewsFinance Minister to deliver the midterm budget tomorrow.
Read more »
African Bank's new acquisition caught up in fraud dramaAfrican Bank's new acquisition caught up in fraud drama
Read more »
Dollar holds near 150 yen as c.bank policy, data deluge awaitedThe dollar inched broadly higher in cautious trade on Monday and held near 150 yen as traders looked to a policy decision by the Bank of Japan later in the week, alongside other major central bank meetings and a slew of economic data releases globally.
Read more »