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Treasury sounds SOE alarm

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IT'S TIME TO TRANSFORM Deputy Finance Minister Mcebisi Jonas chats to City Press in Pretoria on Thursday about the challenges facing parastatals. Picture: Denvor de Wee
IT'S TIME TO TRANSFORM Deputy Finance Minister Mcebisi Jonas chats to City Press in Pretoria on Thursday about the challenges facing parastatals. Picture: Denvor de Wee

Johannesburg - Treasury this week expressed concern about the disarray in which state-owned enterprises (SOEs) find themselves – and the devastating effect their continued slide would have on the economy, given scant growth and the country’s risk of a credit downgrade.

Deputy Finance Minister Mcebisi Jonas told City Press: “If SOEs continue on their current trajectory, they will pose a serious fiscal risk to the country and the economy. They must do something to change this. We cannot forever postpone the need for reform.

“We have to be more focused on ensuring that we improve the financial performance of our state-owned companies,” he added.

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