Budget 'pain will hit us after election'


- citizen.co.za | 7 months ago

The budget speech delivered by Finance Minister Tito Mboweni yesterday was “election-friendly” and South Africans can expect a marked difference in the mid-term budget, which will be delivered later this year, after the May elections.

Mboweni’s speech drew mixed reactions, with several economists agreeing the measures taken towards fixing Eskom were a favourable step. Mboweni said yesterday the embattled power utility would be receiving assistance of R23 billion a year for the following three years.

But the financial assistance to Eskom, which had asked government to take over its R100 billion debt, was on condition that an independent chief reorganisation officer (CRO) was appointed to oversee the rescue.

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