Finance Minister Enoch Godongwana said that the country is not facing a fiscal crisis and has blamed former president Jacob Zuma for the constrained fiscal environment in which government is operating.<\/p>\n
On Tuesday National Treasury announced that the country has been removed from the European union\u2019s list of high-risk third country jurisdictions, following a decision by the Financial Action Task Force last year to remove South Africa from its notorious Greylist.<\/p>\n
Responding to debate on the Adjustments Appropriation Bill Godongwana said South Africa had landed on these lists because of the damage caused by state capture.<\/p>\n
Godongwana said that Treasury is making strides in reducing the country\u2019s debt and associated borrowing costs to ensure it does not become a burden for generations to come.<\/p>\n
“We are not in a fiscal crisis as somebody has said here. Fiscal consolidation is beginning to bear fruit. The battle to tighten its anti-money laundering and terror financing legislation that caused South Africa to be Grey-listed.”<\/p>\n
Gondongwana said that this isa consequence of the Zuma\u2019s administration.<\/p>\n
“When damage is done, it\u2019s got a time lag to repair that damage. It\u2019s taken us the whole of the time and costing us votes due to the damage made under the Zuma years.”<\/p>\n
South Africa will officially be de-listed from the EU’s high-risk list along with Burkina Faso, Mali, Mozambique, Nigeria and Tanzania, at the end of this month.<\/p>\n","protected":false},"excerpt":{"rendered":"Finance Minister Enoch Godongwana said that the country is not facing a fiscal crisis and has blamed former…\n","protected":false},"author":2,"featured_media":21369,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[397,398,403,400,399,401,96,402,406,405,404,131],"class_list":{"0":"post-21696","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-south-africa","8":"tag-ewn","9":"tag-ewn-news","10":"tag-ewn-south-africa","11":"tag-eye-witness-news","12":"tag-eyewitness-news","13":"tag-latest-news","14":"tag-news","15":"tag-news-today","16":"tag-prime-media-plus","17":"tag-primedia-plus","18":"tag-primedia","19":"tag-south-africa"},"share_on_mastodon":{"url":"","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/21696","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/comments?post=21696"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/posts\/21696\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media\/21369"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/media?parent=21696"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/categories?post=21696"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/africa\/wp-json\/wp\/v2\/tags?post=21696"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}