National Treasury says government has spent over R330 billion bailing out state-owned enterprises since 2013.
Deputy Director-General Duncan Pieterse has told the Standing Committee on Public Accounts , that many of these entities struggle because of the weaknesses in their boards and their ability to fulfill their oversight role.
He says many of these entities have had a decline in their performance over the past decade. He added that their failure to perform has had a negative impact on the fiscal framework. “The various bailouts for Eskom, but also for SAA, SABC, Post Office and others have become a financial burden and these debt level have crowded out important social and other expenditure.”
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