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The Latest Breaking News from Enoch Godongwana

South Africa plans to spend more on health and defense after the US cuts aid

Lawmakers in South Africa have laid out plans to shore up the budgets for health and defense but also put up value added tax by 0.5%, a move that will raise the cost of living

The Independent UK

S.Africa Revised Budget Gets Booed Despite Smaller Tax Hike

South Africa's finance minister unveiled Wednesday a budget with a smaller increase in value-added tax than previously proposed, but it was immediately rejected by a key party in the unity government.

International Business Times

South Africa’s finance minister wanted to raise VAT: the pros and cons of a tricky tax

South Africa’s finance minister, Enoch Godongwana, cancelled the unveiling of the country’s 2025 budget as it was due to be released. The move is unprecedented in the country’s history.

The Conversation

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South Africa’s civil service should be restructured, but a plan to reward early retirement won’t solve the problem – economist

South Africa’s finance minister, Enoch Godongwana, announced in his October mid-term budget policy statement that cabinet had approved funding for an early retirement programme to reduce the public sector wage bill. R11 billion (about US$627 million) will be allocated over the next two years to pay for the exit costs…

The Conversation

South Africa Hikes Taxes And Social Spending Before Vote

South Africa plans to hike taxes and increase spending on social grants ahead of a general election in May amid sluggish growth and high debt, the government said on Wednesday.

International Business Times

South Africa's medium-term budget reflects difficult and contested decisions

The medium-term budget policy statement presented by South Africa’s finance minister, Enoch Godongwana, to parliament on 1 November 2023 is intended to provide a preview of government’s public finance plans over the next three years. It does not actually commit government to anything, either in law or in practice. Nevertheless,…

The Conversation

Diabetes is South Africa's second biggest killer disease: hiking the sugar tax would help

Death rates in South Africa have declined slightly during the past few years. But the country faces a steady rise in both death and disability caused by increases in non-communicable diseases such as diabetes and cancer.

The Conversation

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BRICS just invited 6 nations including Saudi Arabia and Iran to join—here's why it increases the prospect of dollar replacement

The idea of creating a BRICS common currency to rival the dollar has long been on the agenda of the emerging-market nations in the bloc.

Fortune

US unlikely to sanction South Africa in Russia weapons dispute -Bloomberg News

(This May 14 story has been refiled to clarify comments were made at a press briefing, not in a statement, in paragraph 5)

Reuters

South Africa's bailout of Eskom won't end power cuts: splitting up the utility can, as other countries have shown

The announcement by the South African finance minister, Enoch Godongwana, of debt relief for the country’s troubled power utility, Eskom, is a step forward. It will fix one problem: Eskom has too much debt. But the plan won’t end power cuts which have worsened in recent years.

The Conversation

Yellen discusses energy transition in South Africa

U.S. Treasury Secretary Janet Yellen is discussing South Africa’s transition from its heavy reliance on coal to greener energy sources during talks with the country’s finance minister

The Independent UK

Yellen says she had 'productive' meetings on Russian oil price cap

U.S. Treasury Secretary Janet Yellen said on Saturday she had productive meetings about a proposed price cap on Russian oil with a host of countries on the sidelines of a meeting of the finance chiefs of the Group of 20 major economies.

Reuters

S.Africans search for survivors in ruins of floods that killed nearly 400

South Africans were searching for survivors on Friday of floods that killed almost 400 people, according to the latest tally, washing away homes and roads and leaving thousands without shelter, water and power.

Reuters

South Africa is becoming vast welfare state, says finance minister

The maiden budget tabled by South Africa’s new Finance Minister Enoch Godongwana carefully balances his desire to stimulate economic growth and reduce borrowing with the need to assist welfare grants to the growing number of poor.

Radio France Internationale

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