South African Budget Speech: Our Detailed Break Down
Eskom and the power crisis remain in the spotlight: Embattled utility state enterprise, Eskom has been allocated a whopping R250 million, spread over three years by minister, Enoch Godongwana. During his budget announcement held in Cape Town, the finance minister pointed out that the allocation to Eskom will enable government to take over a much larger portion of its debt. There’s a catch though to the massive bail out, as some of the power stations will have to be concessional to private players and restructuring. Additional takeaways: 207 days of load shedding were experienced in 2022 compared to 75 in 2021. The Eskom debut arrangement will increase the government’s gross loan debt from R4.73 trillion in 2022/23 to R5.84 trillion in 2025/26.
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