In a mini budget statement, Finance Minister Enoch Godongwana said government has decided to give Eskom 225 billion rand towards its debt for the period 2019 to 2026.
"The debt takeover, once finalised, together with other reforms will ensure that Eskom is financially sustainable," he said.The government has for more than a decade poured billions of rands into Eskom,"with limited improvements in the reliability of the electricity supply or the financial health of the company," he said.
Projected economic growth for this year is 1.9 percent, falling dismally from 4.9 percent in 2021, according to budget documents.
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