Johannesburg – The National Treasury said on Wednesday it would allocate an additional R3 billion to recapitalise the Land Bank, but said no other in-year spending adjustments were proposed for state-owned companies in budget adjustments related to the Covid-19 crisis.
"Global market volatility may further limit the ability of state-owned companies to borrow in capital markets and service their debt obligations," it said. It said these reforms included reducing the number of and merging some state-owned companies and incorporating certain functions into the government, as well as equity partnerships, and stronger policy certainty and implementation.
The government envisioned a package of economic reforms that would improve productivity, lower costs and reduce the demands of state-owned companies on the public purse.
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