take on more than half of Eskom’s debt burden over the next three years to help strengthen its balance sheet, operations and enable it to restructure,The treasury said the government planned to take on R254-billion of Eskom’s R423-billion in debt it said was at risk of default, or 60%, to enable the utility to pay down the debt and interest obligations.
Our economy is facing significant risks. Uncertainty is on the rise. It requires us to do bold things “Our economy is facing significant risks,” finance minister Enoch Godongwana said in his budget speech. “Uncertainty is on the rise. It requires us to do bold things.” As a result, South Africa’s gross debt is now seen stabilising at 73.6% of GDP in 2025/2026 compared to 71.4% of GDP in 2022/2023 seen in October. But the consolidated budget deficit is seen narrowing to 4% of GDP in 2023/2024, the lowest in four years, as higher commodity prices boost mining tax receipts. It is projected at 3.2% in 2025/2026.“This is not an austerity budget.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: TechCentral - 🏆 8. / 71 Read more »
BUDGET 2023 | Government takes up massive chunk of Eskom’s debtThe government has absorbed a massive chunk of Eskom’s R423bn debt, providing the ailing power utility with debt relief of R254bn in the next three years. When and how will this money lend to Eskom’s hands? I mean it should be there as in like yesterday… ffs we are in the dark already and economy of the country is getting worse by the day
Source: TimesLIVE - 🏆 28. / 59 Read more »
Budget 2023: Government takes up massive chunk of Eskom’s debtThe government has absorbed a massive chunk of Eskom’s R423bn debt, providing the ailing power utility with debt relief of R254bn in the next three years. Bazayifumana phi imali?
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Source: TheCitizen_News - 🏆 6. / 75 Read more »