S&P Global Ratings expects government to fulfil its commitments to investors in Eskom as it finalises a plan to tackle the utility’s massive debt burden.
Browsing: Enoch Godongwana
Finance minister Enoch Godongwana expects MPs to pass a new procurement law next year.
Government will impose below-inflation wage increases on its 1.3 million workers, setting it on a collision course with trade unions.
Government will take over as much as two-thirds of Eskom’s R400-billion debt mountain, finance minister Enoch Godongwana said.
Minister in the presidency Mondli Gungubele said government is focused on adding as much new generation capacity to the grid as possible, as quickly as possible.
National treasury is finalising a plan to take over a portion of Eskom’s R396-billion debt as part of a process to place the struggling company on a sustainable footing.
The UK is considering guaranteeing at least $1-billion of South African debt as part of a deal designed to cut the nation’s reliance on coal.
Government is proposing extending a cut in the general fuel levy until early August to help shield consumers from high fuel prices linked to the Russia-Ukraine conflict.
The price of diesel will jump again this week, adding further impetus to inflation, which is threatening to burst above the Reserve Bank’s 3-6% target range.
Government plans to restructure Eskom’s debt before elections in 2024, and will only provide additional support if the company sells assets and cuts jobs, finance minister Enoch Godongwana said.