Mboweni unleashes relief package, but warns SA’s finances under pressure

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Finance Minister Tito Mboweni this week warned that though the government will be funding the massive economic relief package, the country’s finances remained at substantial risk.

Mboweni said the government would strive to provide continued support, but macro-fiscal context would remain constrained as a consequence of the unrest and the lockdown.

“Fiscal adventurism is not the solution to South Africa's problems. We will continue our strategy of restoring the health of public finances.”This is composed of reprioritisation of R1bn and additions of R1.3bn to the baselines of the department of trade and industry, and small business development. Tax collections for the second quarter of 2021 to date were up on estimates, as collections increased from a number of sources including VAT and the mining sector.

“However, absent the greater than anticipated recovery in the global economy, the government may have had to resort to increased borrowings to fund the fiscal riot relief packages.”

 

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So know the South African people are paying at the pumps

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I think then the logical thing for Government will be to actually do something about the risk.

Sell the country for every one wants it, you such useless and voted by useless people even if you fail them, you holding money you can't create jobs, now you want to spend money you telling us will have shortage, then how do you plan? What does your ages in government helps us?

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Government goes out of their way for the R350 DEPENDENCE grant.. for once create sustainable jobs, invest in small businesses that can further create jobs, invest in PROPER sustainable skills development .. nyaaa man u cant fail at the same thing for 27yrs

He wants to Tax it...

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