Tue. Jun 2nd, 2020

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Ramaphosa Signs Money Bills Into Law, Which Sees SOEs Receiving More Funding

Ramaphosa Signs Money Bills Into Law, Which Sees SOEs Receiving More Funding

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President Cyril Ramaphosa has signed a number of money bills into law.

These include the Adjustments Appropriation Bill which indicates government’s spending priorities for the year. That means a number of state-owned entities (SOEs) would be in a legal position to receive some much-needed government funding.

Parliament on Monday published the notice informing the national legislature of the bills that were assented to and signed by the president on 13 January.

The Adjustments Appropriation Bill was to effect adjustments on how money is to be allocated from the National Revenue Fund to be used by government in the current financial year. That means struggling SOEs like South African Airways would be in line for cash injections of up to R5 billion. Over R16 billion would be adjusted and go to a number of other SOEs.

Other money bills assented to and signed by Ramaphosa included the Division of Revenue Bill and the Taxation Laws Amendment Bill.

EWN

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