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Mboweni: Fitch & Moody's credit rating downgrades painful
Reacting to the news, Finance Minister Tito Mboweni said that there was an urgent need for government and its social partners to implement structural reforms to avoid further harm to the country's sovereign rating.
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Moody's & Fitch downgrades push SA further into junk status
Moody's has downgraded the country's credit rating one notch to BA2 and maintained a negative outlook, while Fitch has downgraded South Africa's credit rating from BB to BB- and with a negative outlook.
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Reserve Bank keeps repo rate unchanged at 3.5%
Prior to Thursday's announcement, the bank's Monetary Policy Committee had cut the repo rate by 275 basis points this year to try and counter the effects of negative growth due to COVID-19.
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SA Investment Conference hopes to sell country as attractive business stop
On the conference’s agenda are various subjects, including the energy plan, small business growth and infrastructure investment.
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Ramaphosa: Infrastructure projects to be real driver of SA's economic recovery
President Cyril Ramaphosa said that his administration's economic recovery plan was moving ahead with a number of infrastructure projects already starting.
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SA’s job market continues to decline as unemployment rate soars
While the country’s working-age population continued to grow, increasing by 585,000 or 1.5% in the third quarter, the job market continued to contract.
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Sun International welcomes lifting of international travel restrictions
Over the past few months, the hospitality and tourism industry has been severely affected by the COVID-19 pandemic.
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Mboweni positive on SA economy as Parly approves MTBPS fiscal framework
Separate sittings of the National Assembly and the National Council of Provinces (NCOP) on Wednesday gave the green light.
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SA needs to pay attention to US election results, say economists
At a time that the COVID-19 pandemic has wrecked the global economy countries around the world are scrambling to rebuild their finances.
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ANALYSIS: SA economic reform plans fall short of what’s needed: a few pointers
South Africa needs some serious structural reforms before its moribund economy can come to life.
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Mboweni warns that any slippage in fiscal framework will see debt overtake GDP
The higher the debt to GDP ratio rises, the less likely a country is able to pay down its debt and its risk of defaulting increases, with potentially ruinous consequences.
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Hard lockdown had a significant effect on Sars’ revenue collection - Kieswetter
Edward Kieswetter on Thursday said that imports decreased, with local VAT also affected during the hard lockdown, adding that the tax base was also getting smaller.
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Inside the 2020 medium-term budget policy statement
Take a look at the key figures announced by Finance Minister Tito Mboweni during his medium-term budget policy statement on 28 October 2020.
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Mboweni: SAA funding the fulfillment of an obligation as SAA’s shareholder
SAA is not the only state-owned enterprise (SOE) that will get funds from the fiscus. Various SOEs will be funded to the tune of more than R20 billion over the next few years.
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Mboweni relying on public sector wage bill reduction to shrink budget deficit
Finance Minister Tito Mboweni warned that public finances needed to be rehabilitated as efforts went into helping the economy to recover from the COVID-19 pandemic and lockdown.
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READ: Tito Mboweni’s medium-term budget policy statement
The Finance Minister delivered his medium-term budget policy statement in the National Assembly on 28 October 2020.
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100% tax increase on tobacco products will kill industry - SATTA
The SA Tobacco Transformation Alliance said the industry was bleeding as a result of the COVID-19 lockdown, which saw a ban on the sale of all tobacco products for months.
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Tito Mboweni and closing the hippo’s mouth: MTBPS 2020
The Finance Minister delivers an ambitious Medium-Term Budget Policy Statement that will shift government’s priorities, and slash spending.
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WATCH LIVE: Tito Mboweni delivers MTBPS
The Finance Minister is expected to paint a grim picture of the current state of the economy, which was already limping when the COVID-19 lockdown brought it to its knees.
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JUDITH FEBRUARY: There’s simply no silver bullet to fix SA’s economy
South Africa talks far too much and does far too little. The time for endless discussion on economic policy must surely be over, writes Judith February.
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Transnet sees 1.3% revenue rise, says committed to helping economy grow
The logistics firm has posted a 1.3% increase in revenue for the 2020 financial year from R74 billion to R75.1 billion.
