The state has tried the neoliberalism model in various forms for 31 years, and it has not worked
The key assumption that municipalities would raise enough revenue to fund most of their operational expenditure needs to be revisited
Hunger, exclusion from education and Africa’s debt is more than policy failure, inequality and poor planning, it is the theft of dignity, potential and oppression
Pressure can be relieved in a number of ways such as cutting consultants and reducing staffing in non-core areas such as state-owned entities, as well as ministerial office staff
The chairs of parliament’s finance committees say the country is on a fiscal cliff and the minister has to make difficult choices in his budget this week
The court highlighted the tension between the rights of a body corporate to be reimbursed for the payments made and the right of a respondent to have electricity supplied
South Africa has a R2 trillion budget to fix the economy. It’s a big ask
If the amendment to the Electricity Act is to be effective, fiscal instability at local government level needs to be tackled
The pressure to succeed financially, combined with the lingering effects of poverty, creates a toxic cycle of consumption, debt and financial instability
Accumulated gross debt is expected to stabilise at R6.2 trillion or 74% of GDP by 2026. The annual cost of servicing this deb in that year will be R440 billion
How the government plans to repay the money is being questioned
The real issue is that the February 2023 budget was the least credible assessment of the country’s finances since 1994
To avert complete climate catastrophe, African countries need at least $277 billion per year in additional climate finance
Minister Barbara Creecy says African countries need ‘a new suite of financing instruments, with a set of favourable terms and conditions that are not debt generators’
In early 2021, the country agreed to be a guinea pig for a new approach to tackle sovereign debt
The deputy president told the National Council of Provinces that the municipal debt relief would be conditional and application-based
Political parties and NGOs will be taking Nersa and Eskom to court for granting the utility an 18.65% tariff hike
Although direct trade and financial links between Africa, Russia and Ukraine may be small, the main effect of the war will be civil strife in Africa driven by food and energy inflation
Rising interest rates and living costs deal a double blow to the poor
An increasing number of inquiries for debt counselling are from first-time home and car buyers who took advantage of low interest rates during Covid-19
The power utility can no longer pay its suppliers but a short-term solution is in place while the treasury comes up with a payment solution
Fiscal consolidation is drawing to a close as the public purse was boosted by commodities, but the treasury will probably continue exercising restraint
Tongaat Hulett said it entered into business rescue due to its debt burden and that waiting for additional funding exacerbated the already dire situation
The state is set to achieve a primary budget surplus a year earlier than expected
The power utility, already burdened by a debt of R396‑billion, has taken on a R9-billion loan from the World Bank, causing economists to warn of tariff hikes
Most respondents to a DebtBusters survey are anxious or uneasy about the state of their finances
Armando Guebuza gave evidence in a corruption trial that has transfixed the nation
The finance minister says Eskom’s debt problem may require some ‘fiscal intervention’, but only if certain conditions have been met by the parastatal led by André de Ruyter
This year’s budget will be a balancing act, but the treasury needs to prioritise restoring South Africans economic agency
Hakainde Hichilema came to power on a wave of optimism. Has he delivered?
The Covid-19 pandemic led to an unprecedented widening of the budget deficit and a spike in debt stock but a commodity price surge gave the treasury room to breathe.
The country’s local governments are a drag on investment, a strain on the fiscus and pose a critical sovereign risk