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Live Breaking News & Updates on Gfecra

Stay informed with the latest breaking news from Gfecra on our comprehensive webpage. Get up-to-the-minute updates on local events, politics, business, entertainment, and more. Our dedicated team of journalists delivers timely and reliable news, ensuring you're always in the know. Discover firsthand accounts, expert analysis, and exclusive interviews, all in one convenient destination. Don't miss a beat — visit our webpage for real-time breaking news in Gfecra and stay connected to the pulse of your community

Contingency reserves won't be spent on Eskom and Transnet: Godongwana

South Africa will use future drawdowns of its Gold and Foreign Exchange Contingency Reserve Account to curb its debt burden, says finance minister Enoch Godongwana.

South-africa , Middle-east , Saharan-africa , Enoch-godongwana , Foreign-exchange-contingency-reserve-account , Finance-minister , Contingency-reserves , Eskom , Transnet , Anc , Gfecra

A pot of gold saved the Treasury, but will the rainbow stay?

You have to wonder what the government will do when debt service costs bother us again, asks Sam Mkokeli.

South-africa , World-war , Sunday-times , National-treasury , Godongwana , Bt , Mkokeli-col , Lefties , Foreign-exchange-contingency-reserve-account , Institute-for-economic-justice , Gfecra

Budget only kicks SA growth and debt cans down the road

The raid on the gold and foreign exchange fund is easy money, but steps need to be taken to boost SA’s economy, writes Patrick Bulger.

South-africa , South-africans , World-war , Sunday-times , Comment-policy , Enoch-godongwana , Money , St2502patrick-opinion-budget , Sa , Thabo-mbeki , Anc

Economics standing on its head

The rand has taken a steep dive against the dollar, the pound and the euro since finance minister Enoch Godongwana presented his budget on Wednesday.

South-africa , World-war , Sunday-times , Economics , Head , Enoch-godongwana , Gfecra , Anc , Jacob-zuma , Cyril-ramaphosa , Peter-bruce

Budget's reserve account withdrawal reflects failure of the Treasury

The most unusual element of this year’s National budget also illustrates the National Treasury’s failed approach to budget policy and its unwillingness to leverage the budget as a vehicle for growth, employment and development, writes Gilad Isaacs.

South-africa , National-treasury , World-war , Sunday-times , Comment-policy , R100bn , Gfecra , Foreign-exchange-contingency-reserve-account , St2502gilad , Isaacs , Reserve-bank

EDITORIAL | Let's hope the 100 experts are proved right on tapping the reserve account

The bank itself warned that accessing the reserves would be complicated

South-africa , Cyril-ramaphosa , Enoch-godongwana , National-treasury , President-cyril-ramaphosa , World-war , Sunday-times , Experts , Central-bank , Treasury , R459bn-gold , South-african-reserve-bank

SA digs into reserves to service debt

SA’s state of public finances is so precarious that the country has had to dig into its reserves to finance the servicing of its debt.

National-treasury , Davis-tax-committee , Reserve-bank , Sa , Country , Enoch-godongwana , Foreign-exchange-contingency-reserve-account , The-national-treasury , Sen-muller , Gfecra , Sa-reserve-bank

'This is not an election budget': Enoch Godongwana defends fiscal moves

Finance minister Enoch Godongwana has dismissed suggestions his 2024 budget tabled in parliament on Wednesday smacks of political expediency ahead of South Africa’s general election this year.

Isaah-mhlanga , Enoch-godongwana , National-treasury , Election-budget , South-africa , Rand-merchant-bank , Parliament , Cape-town , Foreign-exchange-currency-reserve-account , Gfecra , South-african-reserve-bank

BUDGET 2024 | Government to tap into special account to reduce debt

The National Treasury plans to draw down from the Gold and Foreign Exchange Contingency Reserve Account for the first time to reduce debt and associated servicing costs over the next three years.

Cape-town , Western-cape , South-africa , Lesetja-kganyago , Reserve-bank , Government , National-treasury , Foreign-exchange-contingency-reserve-account , Gfecra , Enoch-godongwana , Budget-review

BUDGET 2024 | Rand leaps after news of Godongwana's budget speech

Markets liked the fact that government will use the Gold and Foreign Exchange Contingency Reserve Account to reduce borrowing

Lesetja-kganyago , Duncan-pieterse , Enoch-godongwana , Foreign-exchange-contingency-reserve-account , Reserve-bank , Budget-review , Borrowing , Debt-servicing-costs , Treasury , Gfecra , Rand , R500bn