South Africa's GDP only expected to grow by 1.1%, while debt continues to rise.
Minister of Finance, Enoch Godongwana said the country’s debt has risen too fast and too high. Picture: South African Government/X
“Wars elsewhere, such as in the Sudan and the conflict between Ukraine and Russia, threaten regional and international stability, as well as global trade.” He added the government will continue to restructure the electricity supply industry, with the desire to establish a competitive electricity generation market.
“Debt-service costs will reach R388.9 billion in the current financial year. Put differently, this means for every one rand of revenue that government raises this year, 22 cents of this is paid in debt-service costs.”He added they have taken steps to reduce the budget deficit, which has led to them restraining spending and maintaining stable tax collection.
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.
Finance minister to table Medium-Term Budget Policy Statement todayMembers of the public can watch the presentation of the Medium-Term Budget Policy Statement live on Parliament TV, on Parliament’s YouTube channel or on X.
Read more »
South Africa in tech push for digital IDs and National Health InsuranceFinance Minister Enoch Godongwana says the second phase of Operation Vulindlela will prioritise harnessing digital infrastructure.
Read more »
Some economist not expecting any major surprises with MTBPSFinance Minister Enoch Godongwana is set to deliver the MTBPS at the National Assembly on Wednesday.
Read more »
Godongwana's MTBPS expected to indicate how GNU aims to grow economy - SABC News - Breaking news, special reports, world, business, sport coverage of all South African current events. Africa's news leader.The Finance Minister will deliver the Medium-Term Budget Policy Statement today.
Read more »
Transforming Finance Through Scalable Infrastructure: Join the Digital Finance Breakfast in SandtonAfrica's Technology News Leader
Read more »
Here’s what to expect from medium-term budget speechFinance Minister Enoch Godongwana will table his first medium-term budget speech under the government of national unity on Wednesday.
Read more »