The severe impact of the Coronavirus pandemic on the economy has forced the National Treasury to embark on extensive fund allocation manoeuvring, in a bid to soften the blow of the pandemic on the most vulnerable.
In an effort to stabilise the spiraling public sector wage bill, Finance Minister Tito Mboweni has announced that National Treasury will propose a three-year wage freeze.
Improved tax collection and administration continues to be an important element in achieving fiscal consolidation, the National Treasury said on Wednesday.
The gross tax revenue estimate for 2020/21 has been revised down by R8.7 billion compared with the projection in the June Special Adjustments Budget, National Treasury said on Wednesday.
Stabilising government’s debt will come with difficult decisions, and the public sector wage bill is the main area where government will impose reductions aimed at returning public finances to a stable position.
As a result of the devastating impact of the Coronavirus pandemic, South Africa’s economy is expected to contract by 7.8 % this year in real terms.
Headline inflation is expected to fluctuate at the lower end of the 3 to 6% target range, the National Treasury said on Wednesday.
A team of full-time staffers will be appointed to oversee initiatives aimed at ensuring that the economic recovery plan and a number of priority reforms are implemented.
The National Institute for Communicable Diseases (NICD) is set to launch CoughWatchSA - a mobile application aimed at assisting with the early detection of the second wave of COVID19 cases or the beginning of the influenza season.
Sport, Arts and Culture Minister Nathi Mthethwa says he has received a formal report confirming the resignation of the entire board of Cricket South Africa (CSA) on Monday.
President Cyril Ramaphosa says government is looking at establishing additional Special Commercial Crimes Courts in several cities, given the rise in commercial crimes and COVID-19 procurement corruption.
President Cyril Ramaphosa has told Members of Parliament during a question and answer session that rumours of an imminent move to lockdown alert level three this week are not true.
President Cyril Ramaphosa says government is working towards ensuring that there is a model, gender-based violence one-stop centre in all areas that have been identified as hotspots.
President Cyril Ramaphosa says R900 million is to be spent to fund a PRASA Security Plan to combat theft and vandalism.
Trade, Industry and Competition Minister, Ebrahim Patel, has called for the disciplining of subsidies targeted at large-scale industrial fishing, while safeguarding food security and livelihoods for subsistence and artisanal fisheries.
