TOP STORY | Moody’s gives Tito Mboweni three months to deliver 🔒
Finance minister Tito Mboweni has three months to deliver a credible plan to stabilise government debt, starting with finding savings of about R150bn, and tackle the risks posed by state-owned enterprises , especially Eskom, if SA is to avoid junk status after the 2020 February budget.
But most of the R150bn in budget savings, promised in Mboweni’s medium-term budget policy statement last week, will probably have to come from the state wage bill, say economists, putting the government on a collision course with public sector unions.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.
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