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Worse than we thought: Gaolathe on first sight of budget numbers

Friday, November 15, 2024 | 1260 Views |

Seeking pathways: Gaolathe, the new Vice President, has his work cut out for him with the Finance Ministry portfolio PIC: PHATSIMO KAPENG

New finance minister, Ndaba Gaolathe, says he and President Duma Boko may have to cut their salaries for at least a year, as his first look at public finances has shown a deeper crisis than expected. MBONGENI MGUNI writes

The country’s vice president and finance minister, Ndaba Gaolathe, says the state of public finances is worse than the new administration expected to find. Addressing journalists on Thursday, three days after he was appointed Finance Minister, Gaolathe painted a grim picture of the budget.

“What I can say is that the situation is bad, worse than what we had thought.

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