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In 2019 the 17.1% of all South African taxpayers were located in the Western Cape; the province contributed 16.9% of the country's total taxable income thereby contributing to just under R 269.58 billion to the fiscus. [16] Below is a breakdown of the Western Cape governments 2021/22 budget.
South Africa will bail out state utility Eskom with 69 billion rand ($4.9 billion) over three years, the centrepiece of a budget that exposed the limited room President Cyril Ramaphosa has to fix ...
The casualties of balancing a budget are often social programs. For example, if a government cuts education funding, universality is impaired, and therefore long-term economic growth. Similarly, cuts to health programs have allowed [ citation needed ] diseases such as AIDS to devastate some areas' economies by destroying the workforce.
[50] [51] [52] In December 2012 a preliminary estimate indicated, that the needed overall bailout package should have a size of €17.5bn, comprising €10bn for bank recapitalisation and €6.0bn for refinancing maturing debt plus €1.5bn to cover budget deficits in 2013+2014+2015, which in total would have increased the Cypriot debt-to-GDP ...
Greece will probably not need a precautionary credit line after its bailout ends in August if the country sticks to reforms, the head of Europe's rescue fund said in an interview released on Saturday.
In 2017, the South African Public Protector, Busisiwe Mkhwebane, found that the bailout of R1.125 billion that Absa's predecessor Bankorp Group had received between 1985 and 1992 from the Reserve Bank was illegal, and recommended that Absa be forced to pay back R2.25 billion, the current equivalent of the amount.
In 2008, the federal government created the Troubled Asset Relief Program (TARP), a $700 billion government bailout designed to keep troubled banks and other companies in operation.
President Obama declared the bailout measures started under the Bush administration and continued during his administration as completed and mostly profitable as of December 2014. [100] As of January 2018, bailout funds had been fully recovered by the government, when interest on loans is taken into consideration. A total of $626B was invested ...