SOUTH AFRICA: Supplementary budget in the crossfire
Criticism of the Treasury’s “austerity” budget may generate noise, though parliamentary approval of appropriation bills is normally a formality. Another source of tensions – and doubts over promised spending cuts – will be the battle over additional funds for South African A… Become a member to read the rest of this article Username or […]
SOUTH AFRICA: Emergency budget – as bad as expected
Finance Minister Tito Mboweni’s supplementary budget – presented today, 24 June – was as bleak as expected. The finance minister coated the terrible fiscal picture in tough talk about the longer-term need for consolidation, but the emergency budget leaves many loose ends, so… Become a member to read the rest of this article
SOUTH AFRICA: Emergency budget – fast lane to the fiscal cliff?
Finance Minister Tito Mboweni’s adjustment budget – due on 24 June – is expected to forecast the budget deficit climbing to more than 14% of GDP. Immediate questions will revolve around how April’s ZAR 500bn stimulus package will be financed, which will include the reprioritiz… Become a member to read the rest of this […]
SOUTH AFRICA: Mboweni promises wage bill cuts, but can he deliver?
The key concession to credit ratings agencies in Finance Minister Tito Mboweni’s 26 February budget presentation was his promise to reduce South Africa’s wage bill by ZAR 160.2bn over three years. However, it is not clear if the government can deliver and if the plan can b… Become a member to read the rest […]
SOUTH AFRICA: Mboweni promises wage bill cuts, but can he deliver?
● The key concession to credit ratings agencies in Finance Minister Tito Mboweni’s 26 February budget presentation was his promise to reduce South Africa’s wage bill by ZAR 160.2bn over three years. ● However, it is not clear if the government can deliver and if the plan can b… Become a member to read […]
SOUTH AFRICA: Mboweni’s do-or-die budget
● Expectations ahead of the budget presentation on 26 February are largely pessimistic in the context of deteriorating economic growth and skyrocketing public debt. ● Finance Minister Tito Mboweni will try – against all odds – to avert the loss of South Africa’s final investme… Become a member to read the rest of this […]
SOUTH AFRICA: Troubled state of the nation
● President Cyril Ramaphosa’s State of the Nation Address (SONA) today, 13 February, scores points mainly for being realistic about the dire state of the economy. ● It is probably wise that, despite prior media speculation, he eschewed making grand announcements about Eskom re… Become a member to read the rest of this article
SOUTH AFRICA: Davos talk vs ANC politics
Finance Minister Tito Mboweni will fly South Africa’s reform flag at the World Economic Forum (WEF) next week, though his refreshing policy views will rightfully be seen as those of a lone voice within a divided ruling party. Indeed, while the minister will pledge at Davos that t… Become a member to read the […]