The financial condition of many state-owned companies remains weak, says finance minister Enoch Godongwana, who delivered his Medium-Term Budget Policy Statement (MTBPS) in Cape Town on Wednesday.
Finance minister Enoch Godongwana delivered the 2022 Medium-Term Budget Policy Statement (MTBPS) on Wednesday, 26 October.
The rand buckled against the dollar on Tuesday (25 October), testing R18.50 - having closed last week closer to R18 against the greenback.
The Congress of South African Trade Unions has gone back to its initial demand for a 10% wage increase from the government after salary talks collapsed, the union federation said in a statement on its website.
Finance minister Enoch Godongwana will present the Medium Term Budget Policy Statement (MTBPS) on Wednesday (26 October). Several bodies expect it to address critical factors surrounding fiscal and economic sustainability in South Africa.
Eskom is in deep financial trouble, with its interest expense far exceeding its operating profit, which shows that it can no longer service its debt.
The National Consumer Commission (NCC) has declared Obelisk a multiplication scheme after about 4,000 participants from eight WhatsApp groups lost R112 million in an alleged scheme selling bitcoin mining machines.
National Treasury will table the 2022 Medium-Term Budget Policy Statement (MTBPS) on 26 October 2022 within a challenging global economic outlook.
South Africa’s economy is likely in a technical recession as intensified power cuts and heightened uncertainty caused by Russia’s war with Ukraine rippled through global financial markets.
Crypto assets are to be treated as financial products in South Africa, to make it easier for regulators to monitor the market and help to safeguard consumers.
© 2022, Instive. All rights reserved
