BMC struggling to repay gov�t loans
Friday, June 23, 2017
The PDSF was established under the Ministry of Finance and Economic Development as a device to ensure that government would have a source of funds to service public debt.
The report on the audits of the accounts of the government for the financial year ended March 31, 2016, determined that the BMC holds two loans from the PDSF totalling P354 million.
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...