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


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