Tito Mboweni repeats that he wants an independent Reserve Bank
Earlier, the ANC’s Enoch Godongwana suggested the Bank help fund development and infrastructure through the creation of a R500bn fund
02 June 2020 - 17:56
Faced with a budget deficit that’s likely to reach wartime levels, finance minister Tito Mboweni is rebuffing suggestions that the central bank help plug the hole.
SA’s budget shortfall is forecast to exceed 10% of GDP in the fiscal year to the end of March 2021 as restrictions to curb the spread of the coronavirus weigh on economic activity and sap tax revenue. The largest gap on record was 11.6% of GDP in 1914, followed by 10.4% in 1940...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.