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LIVE | SAA Sword of Damocles has now fallen on us – Mboweni

Carin Smith

2020-02-26 13:02

The rand was falling ahead of Finance Minister Tito Mboweni’s crucial Budget 2020 announcement to reach its weakest level against the US dollar since early October.

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10 things to look out for in the Budget 2020 address:

– Details on the creation of a new state bank;

– Details on the sovereign wealth fund proposed by President Cyril Ramaphosa in his State of the Nation Address;

– What will be done about the public sector wage bill, which is at 35% of public spending;

– How much has the tax revenue gap has widened?

– Any update on state funding for National Health Insurance (NHI)?

– Any (extra) funding for embattled South African Airways?

– Mboweni may provide an update on the steps the state will take to ease Eskom’s debt burden;

– Mboweni will likely provide an update on the SA’s debt position as debt servicing costs are the fastest-growing part of the budget;

– Mboweni may give a rather gloomy summation of the health of SA’s economy;

– Will Mboweni caution about a possible downgrade by ratings agency Moody’s? 


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