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 new finance minister said there would be no new bailout for Eskom or other parastatals, with the exception of Denel, which was thrown a lifeline after defaulting on debt to the tune of R2.9-billion
Enoch Godongwana’s first medium-term budget policy statement includes more funding local government, but with more terms and conditions for after service delivery failures cost the ANC dearly at the polls
The finance minister says more grants would mean the money would have to be cut elsewhere as he sticks to fiscal consolidation
The Democratic Alliance tabled its ‘alternative’ medium-term budget with its own projections, ahead of Finance Minister Enoch Godongwane’s maiden budget on Thursday
A growth-oriented bid-term budget statement would go a long way towards creating a fertile environment for new investments
Economists predict the finance minister will speak about the basic income grant, the effect of the July riots on the fiscus, and bailouts
The finance minister says the government must build a conducive environment for investment into South Africa
Speaking at a book launch on Tuesday, the finance minister said a focus on manufacturing is critical to stem the country’s deepening unemployment crisis
‘The unrest presents an untimely and negative effect on SA’s growth prospects,’ said Godongwana, adding that this could last for the next six quarters
The new finance minister now has an opportunity to support SMEs with more than words
Cosatu pushes back against ‘treasury bureaucracy’ for not allowing civil servants emergency access to their retirement funds as a form of Covid-19 relief
The new finance minister has a difficult task, but analysts say his political capital will help him hold a hard line on state spending
This decision is despite the finance minister and the bank’s chief executive dismissing the UDM leader’s allegations as unfounded
The state wants to increase spending on infrastructure to drive economic recovery, and South Africans’ savings could help foot the bill
The party released its plan for the reconstruction of the country’s post-coronavirus economy on Friday. This would involve changes to Regulation 28 of the Pension Funds Act
President Cyril Ramaphosa is set to announce the government’s long-awaited economic stimulus plan to deal with the effects of Covid-19. The key will be getting loans for a stimulus without ‘selling’ the country.
Its integrity commission has found that factional battles are harming the party’s ability to function
Its integrity commission has found that factional battles are harming the party’s ability to function.
The party’s lekgotla agreed to changes in state buying, an important decision overshadowed by ‘poor economic understanding’ at Luthuli House
The ANC’s head of economic transformation, Enoch Godongwana, told Carte Blanche viewers that some South African banks refused to put money in coal.
The governing party plans to address wide-ranging allegations made at the commission
ANC to make submissions regarding evidence from the country’s big four banks and Barbara Hogan, the former public enterprises minister
After Nhlanhla Nene’s axing in 2015, Lungisa Fuzile was cautioned about a ‘Gupta minister’
Ronald Lamola has long been associated with land redistribution, which the party is now seizing on
The ANC had been trying to chart a way forward on the critical question of land
NEC member Ronald Lamola says the ANC would encourage government to forge ahead with expropriation using the current frameworks
The department of international relations is attempting to reclaim the country’s position as a major force on the continent
But the ANC does not yet have a policy for its decision to expropriate land without compensation
A closer look at the resolution of the ANC, shows that it won’t undertake a radical economic transformation agenda as suggested by media reports.
While the question of the Reserve Bank’s state-ownership appeared a done deal before the conference commenced, the resolution on land was unforeseen.
The ANC is seeking to amend the constitution to allow for expropriation of land without compensation and the nationalisation of the Reserve Bank