Medium-term budget: Finance Minister Enoch Godongwana’s debt warning

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.

Belgique Dernières Nouvelles, Belgique Actualités

Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.

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.
La source: BoksburgNews - 🏆 40. / 51 Lire la suite »

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.
La source: SABCNews - 🏆 37. / 51 Lire la suite »

Transforming Finance Through Scalable Infrastructure: Join the Digital Finance Breakfast in SandtonAfrica's Technology News Leader
La source: ITNewsAfrica - 🏆 27. / 59 Lire la suite »