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

CapeTalk welcomes all comments that are constructive, contribute to discussions in a meaningful manner and take stories forward.

However, we will NOT condone the following:

  • Racism (including offensive comments based on ethnicity and nationality)
  • Sexism
  • Homophobia
  • Religious intolerance
  • Cyber bullying
  • Hate speech
  • Derogatory language
  • Comments inciting violence.

We ask that your comments remain relevant to the articles they appear on and do not include general banter or conversation as this dilutes the effectiveness of the comments section.

We strive to make the CapeTalk community a safe and welcoming space for all.

CapeTalk reserves the right to: 1) remove any comments that do not follow the above guidelines; and, 2) ban users who repeatedly infringe the rules.

Should you find any comments upsetting or offensive you can also flag them and we will assess it against our guidelines.

CapeTalk is constantly reviewing its comments policy in order to create an environment conducive to constructive conversations.

Read More
NW DA welcomes Ramaphosa's decision to cut UK trip short to address protests

NW DA welcomes Ramaphosa's decision to cut UK trip short to address protests

President Cyril Ramaphosa will cut short his trip to the United Kingdom to attend an urgent meeting in Mahikeng this weekend.

If they want to clear their names the Guptas will come back home - Hawks

If they want to clear their names the Guptas will come back home - Hawks

The Guptas have slammed the Hawks and the NPA accusing them of pursuing a "witch-hunt" against them.

Eskom in early stages of its investigations into alleged corrupt officials

Eskom in early stages of its investigations into alleged corrupt officials

The utility says it is investigating 239 cases of misconduct by officials.

Where is Zuma going to get this 'tsunami' of legal fees?  - Karyn Maughan

Where is Zuma going to get this 'tsunami' of legal fees? - Karyn Maughan

The Presidency has now officially withdrawn its application for leave to appeal the personal costs order against Jacob Zuma.

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
Why many couples today are struggling with marriage

Why many couples today are struggling with marriage

Dr Eve advises that many modern couples need marriage to be a safe space for self-expression and self-actualisation.

The Big Pet Problem: Are you struggling to rent because you have pets?

The Big Pet Problem: Are you struggling to rent because you have pets?

Frustrated tenants say they're being discriminated against by landlords.

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

'The NPA should be ready and re-enroll the matter' - Nel on Malema prosecution

AfriForum not backing down over decision to privately prosecute Julius Malema.

Ed Dept scraps supplementary exams for matriculants

Ed Dept scraps supplementary exams for matriculants

The Department of Basic Education has announced it will do away with matric supplementary exams from 2019.

Cape Town not out the woods yet even with recent rainfall

Cape Town not out the woods yet even with recent rainfall

Climate expert, Piotr Wolski, says the city will know towards the end of May whether 2018 is a good or bad year.

This is how much you should be paying your domestic worker

This is how much you should be paying your domestic worker

Stephen Rathai, director of employment standards at the Department of Labour talks on the new national minimum wage.

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Madiba’s private secretary Zelda la Grange opens up about money (hers and his)

Bruce Whitfield interviews La Grange about her and Madiba's attitude to money (hopes and fears, successes and failures, etc.)

Mugg & Bean agrees to pay medical bill of customer

Mugg & Bean agrees to pay medical bill of customer

Mugg & Bean has agreed to pay for customers medical bills after a month of being in pain and pestering the chain to pay the bill.