BMC seeks another P300 million bailout
Friday, July 31, 2015
Last week, Parliament’s finance and estimates committee chaired by Ignatius Moswaane, tabled a financial paper requesting for supplementary expenditure for the consolidated and development funds.
The paper is expected to be debated in Parliament next week.
While the political shift brings hope for change, it also places immense pressure on the new administration to deliver on its election promises in the face of serious economic challenges.On another level, newly appointed Finance Minister Ndaba Gaolathe’s grim assessment of the country’s finances adds urgency to the moment. The budget deficit, expected to be P8.7 billion, is now anticipated to be even higher due to underperforming diamond...