[contentcards url=”https://ewn.co.za/2020/04/30/sa-willing-to-sell-poorly-functioning-state-owned-firms-mboweni” target=”_blank”]
The treasury sees gross domestic product slumping by nearly 6% in 2020, while tax receipts are expected to tumble by at least a third.
JOHANNESBURG – South Africa’s Finance Minister Tito Mboweni told lawmakers on Thursday the government was willing to sell cash-burning state-owned firms to ease pressure on government finances in the wake of the coronavirus pandemic and sharply falling tax revenue.
The treasury sees gross domestic product slumping by nearly 6% in 2020, while tax receipts are expected to tumble by at least a third.
Answering questions during a virtual session to parliament, Mboweni said the government would sell “poorly functioning” state firms, without giving details.
