South Africa

National Treasury says government is committed to narrowing the budget deficit and stabilising debt over the next three years.

Government will in the 2019/20 financial year again increase excise duties on alcohol and tobacco in an effort to raise much-needed revenue for the national fiscus, Finance Minister Tito Mboweni said on Wednesday.

Allowing public servants to retire early and reviewing the diplomatic missions staffing structure are some of the measures government will take to trim the public sector wage bill.

Finance Minister Tito Mboweni says there are a lot of positives that can be considered by ratings agency Moody’s, as he announced on Wednesday measures that government is taking to address concerns over Eskom and the public sector wage bill.

Finance Minister Tito Mboweni says the South African Revenue Service will collect R15.4 billion less than earlier projected.

Government has announced a series of interventions in an effort to curb the rise of medical negligence claims against the State.

Despite a challenging environment, government continues to manage its debt and meet its financing needs in a sustainable manner, National Treasury said on Wednesday.

Tabling a difficult budget that required him to weigh priorities against a need for fiscal consolidation, Finance Minister Tito Mboweni kicked off his speech by saying that by doing things right, the country can return to “plum” times.

A proposal to end the issuing of guarantees to state owned companies for operational purposes is being considered, Finance Minister Tito Mboweni said on Wednesday.

Government’s Infrastructure Fund is set to receive a R100 billion over the next decade as the state steps up its infrastructure programme by partnering with the private sector.

Work is afoot on reconfiguring the South African electricity sector by addressing challenges faced by Eskom, with the board of the first subsidiary of the power utility to be appointed by mid-2019, Treasury said on Wednesday.

National Treasury has revised down the South African economy’s growth to 1.5% in 2019.

The Unemployment Insurance Fund (UIF) will be hosting a seminar with the private security sector in Lydenburg, Mpumalanga.

President Cyril Ramaphosa says government has asked traditional leaders to rally behind government to ensure that the five urgent priority tasks that he announced in his State of the Nation Address, are implemented.

South Africans and the international community have been urged to continue supporting the naturally superior Caster Semenya, as she continues to fight for her career at the Court of Arbitration for Sport, in Switzerland.