Treasury

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Treasury welcomes IMF’s recommendations to improve State Owned Enterprises

LOCAL National Treasury has welcomed the International Monetary Fund (IMF)’s recommendations to improve State-Owned Enterprises (SOEs), in efforts to contribute to the sustainability of public finances. This comes on the heels of an IMF staff visit to South Africa from May 26 to June 6. The IMF staff acknowledged the progress made in implementing structural reforms. They urged South Africa to accelerate the implementation of outstanding structural reforms in order […]

today8 June 2022

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Shabangu unhappy with Grindrod’s R10 Sassa charge

Social Development Minister Susan Shabangu said she is unhappy with the R10 transaction charge Grindrod Bank is currently charging grant beneficiaries and is working on finding a new arrangement. Shabangu was in Parliament on Wednesday to account for her department's annual performance and budget plans. Addressing issues around the South African Social Security Agency (Sassa), Shabangu said the department was challenging Grindrod's new charges to cover the costs of their […]

today4 May 2018

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Treasury to launch inquiry to determine revenue gap causes

National Treasury says a judicial commission of inquiry will be established to look at the root causes of the revenue gap. This after global ratings agency Standard & Poor’s Global Ratings downgraded South Africa’s currency to junk status. The move will make it costly and difficult for the country to raise debt in local currency. The decision saw the rand shedding 25 cents to the US dollar. Another rating agency […]

today25 November 2017

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Treasury to launch inquiry to determine revenue gap causes

National Treasury says a judicial commission of inquiry will be established to look at the root causes of the revenue gap. This after global ratings agency Standard & Poor’s Global Ratings downgraded South Africa’s currency to junk status. The move will make it costly and difficult for the country to raise debt in local currency. The decision saw the rand shedding 25 cents to the US dollar. Another rating agency […]

today25 November 2017

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How Treasury blocked Zuma’s free education plan

President Jacob Zuma wanted to announce free education as early as February this year, but was stopped on his tracks by National Treasury, when Pravin Gordhan was still finance minister. The Sunday Times can today reveal that Treasury officials intervened by removing the free education announcement in Zuma’s state of the nation address in February. However, it emerged this week that Zuma was pushing ahead with the plan to announce […]

today12 November 2017

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Allegations against myself and Jonas are sickening: Gordhan

Outgoing Finance Minister Pravin Gordhan and Deputy Finance Minister Mcebisi Jonas have slammed allegations contained in a dubious intelligence report which said they had a secret meeting during a roadshow abroad, in an attempt to undermine the country and its economy. Gordhan also warned South Africans to "connect the dots" when it came to certain events and happenings, in order to see the bigger picture. He and Jonas addressed the […]

today31 March 2017

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Nomvula Mokonyane’s water department is bankrupt

The department of water and sanitation is broke. The critical department is now R4.3 billion in the red, leaving hundreds of contractors unpaid for at least seven months. Senior executives from National Treasury, the department and a key water board told City Press a few days ago that Cabinet should place it under administration because “internal controls, project management and contract management have collapsed”. The situation has become so dire […]

today12 February 2017

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