Mail & Guardian
Mail & Guardian
global financial crisislatest news & developments

Department of Finance

The journey to full-blown austerity is marked by changes to an economy presided over by a government adrift

South Africa is widely recognised as the most unequal society in the world, with a startling 71% of the country’s wealth concentrated in the hands of a mere 10% elite

Austerity, the NDP’s grim reaper

Ten years after its adoption, the government has failed to achieve the targets set out in the National Development Plan. Looming spending cuts will render the NDP even more futile

Chinese president, Xi Jinping.

Will SA lose its footing amid China’s great rebalancing act?

To realise sustainable growth, the economic superpower must change tack, and South Africa must be ready to adjust

Will the dollar hit a Brics wall?

The architecture of the global financial system hurts emerging market economies but the alliance has yet to offer an alternative

Nehawu members protest outside George Tabor Technical College in Soweto on 8 March 2023. (Fani Mahuntsi/ Gallo Images)

Public sector crunch inflicts pain

The government is walking a tightrope as civil servants embark on industrial action over pay

Finance Minister Enoch Godongwana.

Budget 2023: ‘neutral good’ versus ‘neutral evil’

The finance minister’s commitment to toeing the line may send positive signals to ratings agencies, but at what cost?

Lesetja Kganyago.  (Waldo Swiegers/Bloomberg via Getty Images)

Bad policies scar the economy

Decisions from a decade ago have come back to haunt economies – policymakers should be vigilant

South Africa is braced for a public sector strike, which, if all goes to plan, would be the largest in more than a decade. Photo: Delwyn Verasamy

Public sector strike will come at a cost

Commentators have weighed in on the Transnet strike’s economic hit, but strike season isn’t over yet

Dondo Mogajane, director general of the South African National Treasury, Enoch Godongwana, South Africa’s finance minister, David Masondo, South Africa’s deputy finance minister, and Edward Kieswetter, commissioner of the South African Revenue Service (SARS), (left to right), make their way to the budget presentation in Cape Town, South Africa, on Wednesday, Feb. 23, 2022. South Africa cut corporate taxes and set more ambitious targets for reducing debt, after a surge in commodity prices led to higher-than-expected tax income. (Dwayne Senior/Bloomberg via Getty Images)

Government stares down public wage conundrum

Workers are in the throes of a cost of living crisis, which could force the government to fold on its hard line against more spending

The inflation number was in line with consensus expectations, which took into account July’s petrol price hike. During that month, fuel prices rose by more than 10%, with the price of petrol going up by more than R2 a litre. Photographer: Dwayne Senior/Bloomberg via Getty Images

Inflation hits 7.8% – a level not seen since the global financial crisis

Labour unions have embarked on a nationwide strike over the high cost of living

There are environment-friendly interventions that will ensure that South Africa will have sufficient renewable power supply domestically as well as for export.  (Dwayne Senior/Bloomberg via Getty Images)

‘South Africa on a path to unjust transition’

The country needs a greener economy but energy specialists say policymakers must ensure the creation of a fairer economy in the process

A deep downturn is unlikely, analysts say. But, if it does happen, another recession will be even more difficult to recover from.

South Africa on weak footing amid global recession fears

A deep downturn is unlikely, analysts say. But, if it does happen, another recession will be even more difficult to recover from

Gold prices have surged by more than 30% in 2024, repeatedly hitting record highs as global economic uncertainty drives demand for the precious metal.
 (Andrey Rudakov/Bloomberg via Getty Images)

Rate hikes scuff gold’s pandemic polish

Inflation fears should have inspired a run on gold, but the asset may have lost its relevance

Covid-19 cast the economy adrift, but a less punishing new phase of the pandemic could set it back on track. (Waldo Swiegers/Bloomberg via Getty Images)

2022: A return to normality or more economic uncertainty?

Covid-19 cast the economy adrift, but a less punishing new phase of the pandemic could set it back on track

Social protection policies can help to combat Covid-19, and mitigate its effects

The global pandemic has highlighted the importance of national health insurance, mandatory sick leave and unemployment benefits

Greece has been making headlines

Weary world beggared by borrowing

About 95 countries are either in a debt crisis or facing one, but South Africa isn’t one of them.

Our continent is becoming a significant world market yet we struggle to use the knowledge economy to its full potential.

Jobs news — bad with SA Inc on hold

The market turmoil of the past week has been a boon for 24-hour business channels, writes <b>Maya Fisher-French</b>.

Stocks in perfect storm of Irene

Markets panic as Obama fails to restore confidence

Efforts by world leaders to restore confidence have failed miserably as markets plunged to new lows on Tuesday, on fears of another global recession.

Twilight of American century

Twilight of American century

As deflation and depression loom, the United States could be at a historical turning point.

All banks on board

The financial crisis has highlighted the importance of quality bank training for staff and all levels of management.The crisis is a major wake-up call