Latest Nigeria News - Latest Naija Gists

PREVIEW: Tito Mboweni’s mid-term budget

WhatsApp

PREVIEW: Tito Mboweni’s mid-term budget

PREVIEW: Tito Mboweni’s mid-term budget

Could Finance Minister Tito Mboweni present a financially prudent and growth-friendly balance sheet?

Analysts say it will be difficult.

There’s a stunt in the economic growth, there are fewer businesses and employees paying taxes, and South Africa is borrowing at delicate levels.

Recently in July, Mboweni warned that South Africa’s debt-to-GDP ratio would reach an unmanageable 140% within a decade if we didn’t do anything about it.

But if we cut spending and lending, we could stabilize the debt-to-GDP ratio at 87% by 2023.

The problem?

The impact of COVID-19 continues as other obligations have made this desperate task too ambitious, even the president’s Economic Advisory Committee thinks so.

South African Airways will receive more than R10 billion, an additional R6 billion will be allocated for the extension of the COVID-19 grant and R100 billion for a massive three-year employment program, announced by the president.

There is also a tax notice.

Although the new fiscal policy announcements only made in the February budget, analysts said the finance minister may hint at possible wealth taxes.

The post PREVIEW: Tito Mboweni’s mid-term budget appeared first on .





Promote Your Music and Video With AfroNaija Today Please Whatsapp On +2349092093564
What do you think about this song? We want to hear from you. Drop your comments

South Africa News

Get breaking South Africa news, south africa news today, latest south african news today, what is happening in south africa, latest news south africa, headlines today breaking news, daily news south africa, current situation in south africa

Related Articles

Leave a Reply

Your email address will not be published.