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Tax Hikes, Sale of State Assets 'Inevitable' for South Africa

The sale of the government's stake in Telkom is required to avoid breaching the expenditure ceiling by R3.9 billion. This comes as Finance Minister Malusi Gigaba announced bailouts for South African Airways and the National Post Office totalling nearly U.S.$1 billion (R13.7 billion) amid claims that "there is little space for tax increases in the current environment" in his Medium-term Budget Policy Statement.

VIDEO: Post 2017 Medium-Term Budget Policy Statement by Financwe Minister Gigaba

South Africa: No More Mr Nice Guy - Gigaba Gets Tough On State-Owned Entities

News24Wire, 25 October 2017

Finance Minister has drawn a line in the sand regarding government's expectations of the executives and board members that are running the country's state-owned companies (SOC)… Read more »
South Africa: Mini Budget Claims Progress With Confidence Boosting Measures

News24Wire, 25 October 2017

The medium-term budget listed some progress in the government's short-term confidence boosting measures announce in June by Finance Minister Malusi Gigaba. Read more »

GCIS

Finance Minister Malusi Gigaba (file photo).

South Africa: Unprofitable SOEs Have Become a 'Substantial' Risk On Fiscus

News24Wire, 25 October 2017

South Africa's unprofitable state-owned entities have become a fiscal risk for government, according to the 2017 mini budget. Read more »
South Africa: Weak Growth Drags Down Transformation Efforts

News24Wire, 25 October 2017

Economic growth has averaged 1.9% per year between 2010 and 2016, and with growth projections for 2017 revised down to less than a percent, it is proving to be a constraint to… Read more »
South Africa: Recovery Plan for Distressed Municipalities

News24Wire, 25 October 2017

National Treasury is currently working with other state departments to develop a funding mechanism and recovery plans for municipalities that are in financial distress. Read more »
South Africa: Finance Minister Evasive On Tax Increases, but Expect It to Happen

News24Wire, 25 October 2017

Finance Minister Malusi Gigaba was careful not to distress South Africans with visions of big tax hikes, but it seems inevitable that an increase, or possibly new taxes, will be on… Read more »
South Africa: Finance Minister Vows to Spend On Poor, Despite Fiscal Pressures

News24Wire, 25 October 2017

Despite fiscal pressures, government will continue spending on core social programmes to benefit poor South Africans, Finance Minister Malusi Gigaba said in his mini budget speech… Read more »

Video

25 October 2017

Unpacking the 2017 Midterm Budget

Publisher:

SABC

Publication Date:

Finance Minister Malusi Gigaba tabled his midterm budget speech in Parliament yesterday. The budget speech comes in the midst of challenging times in ... see more »

South Africa: Govt Considers Sale of State-Owned Assets to Assist National Carrier, Post Office

News24Wire, 25 October 2017

Finance Minister Malusi Gigaba needs to sell government-owned assets such as its stake in Telkom or his budget will breach the expenditure ceiling by R3.9bn. Read more »
South Africa: Tough Times Ahead Amid Lower Economic Growth

News24Wire, 25 October 2017

South Africans should brace themselves for tough times ahead. South Africa's economic prospects deteriorated considerably since February this year, the mini budget shows. Read more »
South Africa: Govt Could Dispose of Telkom Shares to Avoid Expenditure Breach

News24Wire, 25 October 2017

Government may dispose of a portion of its "well-performing" shares in fixed and mobile operator Telkom in efforts to avoid a R3.9bn expenditure ceiling breach. Read more »
South Africa: State-Owned Companies Critical for Transformation - Finance Minister

News24Wire, 25 October 2017

Government needs to leverage off state-owned companies (SOCs) strategically to develop the economy, Finance Minister Malusi Gigaba said in his Medium-term Budget Policy Statement… Read more »
South Africa: Free Higher Education for Some Students Will Lead to R61 Billion Funding Shortfall

News24Wire, 25 October 2017

If government were to finance the full cost of study for 40% of undergraduates in South Africa it would create a funding shortfall of over R61bn over the next three years, National… Read more »
South Africa: Students March to Parliament, but Arrive Too Late for Mini Budget

News24Wire, 25 October 2017

About 150 university students marched to the National Assembly on Wednesday afternoon where Minister of Finance Malusi Gigaba was delivering his medium-term budget speech. Read more »
South Africa: Labour Federation Slams Medium Term Budget Policy Statement

COSATU, 26 October 2017

The federation had hoped against all hope that government would listen to workers, civil society and the public at large this time around and act decisively to rally the social… Read more »

InFocus

South Africa's Finance Minister Delivers First Mini-Budget Speech

Finance Minister Malusi Gigaba has tabled his maiden Medium Term Budget Policy Statement in Parliament, following his appointment to the National Treasury in March this year. ... Read more »
- South Africa: 2017 Medium Term Budget Policy Statement
- South Africa: Economists Forecast 'Terrible' Budget Presentation
South African Students Demand Release of Fees Commission Report

Western Cape police have said that officers are prepared to "maintain law and order" during protest action by students from the University of Cape Town and the Cape Peninsula ... Read more »
- South Africa: University Students Prepare March to Parliament Over Fees Commission Report
- South Africa: UCT Lectures Disrupted, Students Consider March On Parliament
South African Govt's Telkom Shares to Bail Out 'Doomed' Airline?

Allegations that Finance Minister Malusi Gigaba aims to dispose of 39.75% of government-owned shares in Telkom valued at nearly R14 billion ($U.S.1 billion) to bail out debt-ridden ... Read more »
- South Africa: Finance Minister's R10-Billion Plan to Bail Out Airliner
- South Africa: Airline Chair Blames Carrier's Woes on Historic Legacies

InFocus

Tax Hikes, Sale of State Assets 'Inevitable' for South Africa

VIDEO: Post 2017 Medium-Term Budget Policy Statement by Financwe Minister Gigaba

Video

Unpacking the 2017 Midterm Budget

InFocus

South Africa's Finance Minister Delivers First Mini-Budget Speech

South African Students Demand Release of Fees Commission Report

South African Govt's Telkom Shares to Bail Out 'Doomed' Airline?

InFocus

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