Treasury admits SA is in trouble

Dondo Mogajane, Director General of Finance at National Treasury, says today’s medium-term budget policy statement by Finance Minister Malusi Gigaba, is an indication of how much trouble we are in.

Finance Minister Malusi Gigaba unveiled his first medium term budget policy statement in Parliament today.

He detailed government’s spending plans for the next three years and explained how he intends to deal with rising government debt.

Mogajane says their job is informed by the Constitution and dictated by law.

He has assured South Africa that he has a competent team that will help state owned entities like South African Airways and Eskom turn around their finances.

When things are bad, the shareholder comes around and asks for a bailout… It cannot be business as usual.

Dondo Mogajane, Director General of Finance at National Treasury

This article first appeared on 702 : Treasury admits SA is in trouble


Recommended

by NEWSROOM AI
Read More
'I have not heard anybody saying there was undue pressure placed on them by me'

'I have not heard anybody saying there was undue pressure placed on them by me'

Minister Mthethwa denies exerting pressure on prosecutors to arrest Johan Booysen during his tenure as police minister.

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

ANC Limpopo postpones PEC meeting amid VBS fraud allegations

The provincial executive committee was expected to meet on Thursday night.

'VBS is being investigated and there is progress in that regard' - Hawks

'VBS is being investigated and there is progress in that regard' - Hawks

A report published by the SARB shows that close to R2 billion had been looted from the bank by over 50 individuals.

[LISTEN] SACP and OUTA welcome Nene's resignation, congratulate Mboweni

[LISTEN] SACP and OUTA welcome Nene's resignation, congratulate Mboweni

President Cyril Ramaphosa announced on Tuesday the appointment of former reserve bank governor Tito Mboweni as finance minister.

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Most important aspects of Malusi Gigaba’s ‘mini-budget’ speech

Bruce Whitfield asks Investec Asset Management Economist Nazmeera Moola to distil the Medium Term Budget Policy Statement.

Gigaba needs to bridge "trust deficit" and Zuma dodges Madonsela report: Brown

Gigaba needs to bridge "trust deficit" and Zuma dodges Madonsela report: Brown

Finance Minister Malusi Gigaba will present his first medium term budget policy statement in Parliament on Wednesday.

Popular articles
I worked for that money! - Robert Madzonga (VBS shareholder Vele Investments)

I worked for that money! - Robert Madzonga (VBS shareholder Vele Investments)

The Money Show’s Bruce Whitfield interviews Madzonga, who claims innocence and that Chairperson Tshifhiwa Matodzi lied to him.

The sun sets on Zimbabwe’s new dawn as inflation hits 155%

The sun sets on Zimbabwe’s new dawn as inflation hits 155%

Here we go again… The Money Show’s Bruce Whitfield interviews Africa Connected Host Lee Kasumba.

'Clicks false-positive pregnancy tests causes a lot of heartbreak'

'Clicks false-positive pregnancy tests causes a lot of heartbreak'

Some of the women who used these tests shared their heartbreaking stories with Business Insider Online.

Tax payers could go back to filing returns manually if Sars system not fixed

Tax payers could go back to filing returns manually if Sars system not fixed

Marc Sevitz of Tax Tim says it is scary to think the system might collapse and taxpayers will have to file manually.

[WATCH] Hilarious little girl tells mom that she needs a boyfriend

[WATCH] Hilarious little girl tells mom that she needs a boyfriend

Khabazela shares some of the most popular tweets, posts, and videos on 'What's gone viral'.

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

VBS gave Zuma R8.5m before any security was provided for loan - News 24 journo

News 24 investigative journalist Kyle Cowan reports that Zuma was granted the loan despite the fact that he could not afford it.

Let your nose decide if docci claims into perfume industry are true

Let your nose decide if docci claims into perfume industry are true

Claims have been made that the perfume industry don't want consumers to know the real cost of making these products.

Woman alleges pastor Omotoso began sexually abusing her at 14

Woman alleges pastor Omotoso began sexually abusing her at 14

Nigerian pastor Timothy Omotoso and his two co-accused face multiple charges, including human trafficking, racketeering and rape.