IN SUMMARY | Tito Mboweni’s Medium-Term Budget Policy Statement speech
Mboweni said South Africa’s economy is expected to contract by 7.8 percent this year, but will rebound to 3.3 percent growth next year.
SA Economy
World Bank imposes conditions on possible R32b loan to South Africa – report
Talks on the possible loan have reportedly stalled after the World Bank imposed conditions on the wage bill and SOE bailouts.
UIF TERS extension, basic income grant: What COSATU wants from Mboweni’s MTBPS
COSATU also welcomed the three-month extension of the social relief of distress (SRD) grant, but said the government must extend it further.
R70b IMF loan not earmarked for salaries, but could be used to pay them – Mboweni
Finance Minister Tito Mboweni appeared to concede that a portion of the IMF loan could end up paying government salaries.
Ramaphosa on 800,000 jobs commitment: It’s not just for unskilled work
President Cyril Ramaphosa has provided more details on his Presidential Employment Stimulus, which he said is not just for unskilled work.
These are the target areas where Ramaphosa aims to create 800,000 jobs
The government has published a series of documents giving more details to Ramaphosa’s speech, including the exact figures and broad timeframes.
Pick n Pay’s Ackerman slams plans to restrict foreign traders in Gauteng townships
Gareth Ackerman says the government should instead work with both local and foreign-owned small traders within a formal and regulated framework
South Africa’s economic recovery plan: Summary of Cyril Ramaphosa’s speech
Here is a summary of President Cyril Ramaphosa’s ambitious economic reconstruction and recovery plan for South Africa.
Economic advisory council backs R243b taxpayer-funded basic income grant
The Council reportedly said such a grant would cost R243 billion per annum and would therefore necessitate tax increases to fund it.
Ramaphosa’s economic advisory council proposes tax hikes for South Africa
The Council has submitted a 100-page document to President Cyril Ramaphosa as part of his efforts to come up with an economic recovery plan.