Deciding against tax increases, the Treasury said it planned to reduce non-interest expenditure over the next three years, including a proposed 160.2 billion rand ($10.5 billion) cut in public sector wages.
Treasury's unexpected decision to cut rather than raise taxes may help SA avoid slipping into a recession this year, a scenario which economists believed was possible if taxes were higher and load-shedding continues as Eskom carries out intensive maintenance to fix its neglected power plants (see cover story on p.26).
"Government will do whatever it takes to ensure a stable electricity supply".
There was likewise little detail provided around the Sovereign Wealth Fund, which the minister said would be created with a target capital amount of R30-billion.
"There´s lots of cleaning-up things we can do", Mboweni told reporters in a pre-budget news conference.
The government budget deficit now stands at 6.8 percent of gross domestic product (GDP).
South African political analyst Daniel Sile said Mboweni had presented a "credible yet politically risky budget".
Bernie Sanders: "The truth is the truth" (about Cuba)
He initiated a major literacy program. "But sure, Bernie, let's talk about his literacy program", Michael Bloomberg tweeted. After insisting he has opposed authoritarianism consistently, he then defended authoritarianism on the debate stage.
Geneva Motor Show 2020 CANCELLED due to Coronavirus
We all love cars and are anxious to see the new world premieres automakers have lined up, but people are more important. Three new-model launch events at worldwide locations have been cancelled in the past week, with more likely to follow.
In addition, if government and the unions wage negotiations become as disruptive as in previous rounds, then it is possible that the country's economic growth may enter a recession.
South Africa's main opposition party, the Democratic Alliance (DA), blasted the government for "wasting money" on state-owned enterprises.
An economics lecturer at Stellenbosch University, Nic Spaull, said that the cuts to personal income tax may make these discussions more hard.
Moody's is the last of the top three agencies to rate the country's debt at investment level, and it is expected to review the rating in March.
Repeated bailouts to state-owned entities over the past decade - most notably to Eskom and flag-carrier South African Airways - have drained state coffers.
Finance minister Tito Mboweni has abandoned any attempt to hang on to South Africa's last investment-grade credit rating, with a budget that bluntly acknowledged debt will not stabilise over the next few years and unexpectedly eased the tax burden on individuals in a desperate attempt to resuscitate the flagging economy.
"Lower revenue forecasts mainly reflect lower GDP growth forecasts of just 0.9% in 2020 rising to a still weak 1.6% in 2022, along with revised assumptions about the effect of nominal GDP growth on government revenue".
His heavily pregnant wife, several doctors, staff and patients at the hospital are thought to have caught the virus from him. Inter, who are atop the league, confirmed on Saturday night that their match at 17th-placed Sampdoria would not be played.
But it was slim pickings outside of her glorious innings, with India fortunate New Zealand weren't more polished in the field. But there are some niggling issues that they would like to address before they enter the business end of the World Cup.
Les trois jeunes participaient à une soirée d'anniversaire, dans la salle des fêtes du village, lorsque le drame s'est déclenché. Les faits se sont déroulés dans la nuit de lundi à mardi à Villegats, près de Ruffec , selon la gendarmerie et les secours.
The mum always gets it right, whether she's attending the glamorous West End or embracing the great outdoors with her children. Known for her love of high street finds, the duchess' footwear championed affordable British retailer Marks and Spencer .
Bayer Leverkusen are fifth in their league and in the last 32 defeated Porto - who won Rangers' group - home and away. Rangers progressed to the last 16 with a thrilling 4-2 aggregate win over Portuguese side Braga.
Facing lawmakers' questions Thursday about the new organizational chart, Azar said Pence would now fill that role. The stock market is having its worst week since 2008 . " Mike Pence literally does not believe in science".
The staffer told school officials that a family member also on the trip became sick Tuesday and was taken to the hospital. The family member is being "treated, monitored and quarantined", the letter said.
It's far from the only movie based on a video game in development right now - we've got a huge list of projects in the works . Here's a look at posters for the upcoming Monster Hunter movie, starring Milla Jovovich , Tony Jaa , and Ron Perlman .
He said of meeting the singer, "I do a lot of different styles of content, but this one's just been released". There was a moment of magic, however, when Kevin bumped in Charlotte .
Saudi Arabia to have richest horse racing competition
Furthermore, The Saudi Cup is expected to attract around 10,000 spectators and it will be run over 1,800 metres on a dirt track. Currie and six others are to compete in a points-based challenge over four races with seven male riders led by Frankie Dettori.
OR confirms case of coronavirus with no known travel connection
More than 80,000 people worldwide have been infected and about 3,000 have died - majority in China, where the epidemic started. Staying current on your vaccinations, including the flu vaccine, eating well and exercising all help your body stay resilient.