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Cabinet optimistic that Mboweni's budget will get economy back on track

Cabinet described it as a roadmap to stabilise debt and was optimistic it would get the economy back on track.

Finance Minister Tito Mboweni. Picture: GCIS

CAPE TOWN - A Cabinet meeting held this week ploughed through some of the country's most pressing problems.

The president and his ministers met virtually on Wednesday.

Cabinet's received a report on progress made so far with South African Airways' business rescue process, which has hit turbulence.

Yet Cabinet seemed satisfied, saying that a positive vote among the airline's creditors to conclude the process was the most viable and expeditious option. It said that it backed the proposal for a new airline.

It's a costly affair, though, and given the parlous state of the economy, many are skeptical.

The abysmal economic state of the economy was laid bare with the Finance Minister's emergency supplementary budget, delivered this week.

Cabinet described it as a roadmap to stabilise debt and was optimistic it would get the economy back on track.

Regarding COVID-19, Cabinet discussed regulations gazetted on Thursday night for several sectors. While they are now public, no date has been given for when the likes of movie theatres can reopen and when restaurants can welcome back patrons for sit-down meals.

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