Business and ratings agencies eye medium-term budget for evidence of turnaround

📆 10/11/2019 2:25 AM
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Steps to halt the slide in the government’s finances and action on parastatals such as Eskom will be crucial

Finance minister Tito Mboweni, October 24 2018. Picture: ESA ALEXANDER

“The biggest issue for us is to send a signal that we are grappling with these macro issues and challenges,” Sipho Pityana, president of Business Unity SA, said on the sidelines of the Harambee National Solutions Exchange on Youth Employment event in Johannesburg on Thursday. Along with concrete details on how the government plans to deal with its deteriorating fiscal position, Pityana said the issue of the escalating public sector wage bill — which accounts for 35% of government spending — as well as the financial and leadership crisis facing a number of state-owned enterprises need to be addressed.

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BUSINESS MAVERICK: SA’s WEF ranking advances while business confidence risesDomestic business confidence rose in September off 34-year lows, while South Africa’s ‘competitiveness’ ranking by the World Economic Forum also moved up a few notches. While this is surely welcome, both data sets come off such low thresholds that improvements hardly signal a significant turnaround. So Julius what you got to say about this ?
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