Mboweni says SA’s fiscal framework has been transformed
JOHANNESBURG – Finance Minister Tito Mboweni has placed structural reforms, including a new labour market policy, at the centre of the government’s plan to resuscitate the economy, which is at the brink of collapse due to the coronavirus (Covid-19) pandemic.
Mboweni said on Friday that the reforms would begin with the adjustment of the national budget and the prioritisation of funds before approaching international financial institutions for additional funding.
He said the social and economic recovery package announced by President Cyril Ramaphosa earlier this week was way more than R500 billion due to tax breaks and loan guarantees, and had thus changed the fiscal framework.
Source: iol.co.za