Mboweni

Finance Minister Tito Mboweni. Sean Gallup, Gallo Images, Getty Images Beyond Covid-19, most economists agree that the best way to reduce South Africa’s debt burden is to grow the economy.The belief that we can spend our way out of low growth is misguided.Structural reforms are essential.South Africa’s supplementary budget puts forward a path to restore…

Finance minister Tito Mboweni delivering SA's coronavirus budget. (Parliament of SA) Pension funds could be used to finance infrastructure projects, if Regulation 28 of the Pension Funds Act is amended, says Finance Minister Tito Mboweni.Government, however, has no intention on adjusting the percentage that should be invested in this asset class beyond 25%.The Financial Sector…

Minister of Public Service and Administration, Senzo Mchunu. During his budget speech in February Mboweni proposed a cut to the state's wage bill by R160.2 billion over three years.Mboweni tabled a supplementary budget after the impact of the Covid-19 pandemic rocked the economy and tax revenue prospects.Government could not honour its wage increase agreement with public…

4m ago "Even as South Africa responds to the current health and economic crisis, a fiscal reckoning looms. The public finances are dangerously overstretched. The wide gate is a passive country that lets circumstances overwhelm it.   10 2020 Supplementary Budget Speech If we remain passive, economic growth will stagnate." 5m ago Mboweni is fond of…

Minister of Finance Tito Mboweni and President Cyril Ramaphosa. Brenton Geach, Gallo Images Finance Minister Tito Mboweni has very few options left to raise much-needed government funds, experts say.To curb excessive irregular spending, Mboweni wants government to look at zero-based budgeting, which allocates funding based on programme efficiency and necessity.Economist Mike Schüssler says Mboweni finds himself…