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South Africa’s economy has contracted for a third consecutive quarter following a 2% decline in the first quarter of 2020, Statistics SA announced on Tuesday. The economy declined by 1.4% … Read More
The National Treasury is considering the possibility of instituting an inheritance tax and a limited-duration solidarity tax, according to a Bloomberg report. The publication cited anonymous sources who were part … Read More
The Democratic Alliance (DA) has expressed concern at the runaway public wage bill, saying it leaves precious little revenue for investments into the productive sectors of the economy. In a … Read More
Finance Minister Tito Mboweni was apparently about to make an announcement on the use of pension funds to finance infrastructure projects in his supplementary budget speech on Wednesday. During a … Read More
The SA Communist Party (SACP) says Finance Minister Tito Mboweni does not have “the express permission” to borrow funds from International Monetary Fund (IMF) and other finance institutions. SACP First … Read More
Finance Minister Tito Mboweni has said the government will miss its tax target by a whopping R300 billion this year as a result of the COVID-19 pandemic. In a virtual … Read More
South Africa’s unemployment rate rose by one percentage point to 30.1% in the first quarter (January-March) of 2020 compared to the fourth quarter of 2019. The expanded unemployment rate was … Read More
President Cyril Ramaphosa has warned that there are no quick fixes to the economic impact of the COVID-19 pandemic. In his weekly newsletter on Monday, Ramaphosa urged South Africans to … Read More
South Africa has secured a $1 billion (around R17 billion) emergency loan from the New Development Bank (NDB) to help fund the government’s response to COVID-19. The NDB was established … Read More
President Cyril Ramaphosa has emphasised that the government’s Black Economic Empowerment (BEE) policy is “here to stay” and should in fact be strengthened. Speaking during a hybrid question-and-answer session with … Read More
