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'Mboweni is too generous, it's a miracle we are not downgraded to junk status'

26 October 2018 8:55 AM
Tags:
SAA
Sikonathi Mantshantsha
finance minister tito mboweni
R9 billion bailout

Sikonathi Mantshantsha says the Finance Minister is too generous by giving SOEs another bailout.

Deputy editor at Financial Mail Sikonathi Mantshantsha says the newly appointed Finance Minister Tito Mboweni is a generous man.

Mboweni announced that SAA, the SA Post Office and SA Express will be receiving another bailout from government, to the tune of R9 billion.

He made the announcement during his Medium Term Budget Policy Speech on Wednesday.

Read: #MTBPS2018 'We cannot sit back and pretend that things are okay'

He went on to give some money to those big, black and dark holes called SAA, SA Express and Post Office. R9 billion of our money.

Sikonathi Mantshantsha, deputy editor at Financial Mail

It is a miracle that Fitch rating agency did not downgrade us deeper into junk status, but they held fire and said they believe South Africa has good leadership in charge and they can perhaps take this country forward.

Sikonathi Mantshantsha, deputy editor at Financial Mail

Mantshantsha adds that the South African Revenue Service will again miss its collection target for the fourth year running.

This time, the collection target will be missed by R27 billion, says Mantshantsha.

To hear the rest of the conversation with Sikonathi Mantshantsha, listen below:


This article first appeared on CapeTalk : 'Mboweni is too generous, it's a miracle we are not downgraded to junk status'


26 October 2018 8:55 AM
Tags:
SAA
Sikonathi Mantshantsha
finance minister tito mboweni
R9 billion bailout

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