Extra-ordinary measures needed to save the economy

Written by on 28 May, 2020

ANC treasurer-general, Paul Mashatile, says extraordinary measures will be needed to save the country’s ailing economy from the impact caused by the covid-19.

South Africa currently has a 500-billion-rand stimulus fund to help the recovery of the economy.

Mashatile says the government is planning to announce a 357-billion-rand infrastructure programme that will focus on network industries such as rail and ports, energy, broadband connectivity, water, sanitation and human settlements.

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Meanwhile deputy Finance minister, David Masondo, says Eskom must address its debt as an equity injection from the government will not be sustainable.

The power utility has a debt burden of 450-billion-rand with municipal debt now approaching the 30-billion-rand mark.

Meanwhile, acting director-general of the department of Public Enterprises, Kgathatso Tlhakudi, has told a parliamentary committee that Eskom could record a loss of 16-billion-rand for the 2020 financial year.

By: Gagasi FM News

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