Eskom appropriation bill to be decided | IOL Business Report

JOHANNESBURG - Legislators will today have to walk a fiscal tightrope when they decide on the special Eskom appropriation bill aimed to release nearly R60 billion over the next two years to keep the embattled power utility afloat.

The International Institute of Finance yesterday warned that support for Eskom will balloon the budget deficit closer to 6 percent. “The structure of Eskom support will determine the extent of the deterioration of government deficit and debt.” In February, National Treasury said that it had allocated R23bn a year over the next decade to shore up Eskom’s books but Eskom said the allocation would not be enough for it to meet its debt obligations.

“Bail outs of this magnitude cannot be repeated, and must be synchronized with long term structural solutions.”

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