G20: Masondo reiterates importance of cooperation in firing up global economies
The calls come as the global economy is facing heightened uncertainty and complex challenges, including ongoing wars and conflicts, geopolitical and trade tensions and sovereign debt levels.
ALSO READ: G20 finmin meeting ends with first communique agreement under SA's presidency
Finance ministers and central bank governors wrapped up their third meeting in KwaZulu-Natal on Friday under South Africa's G20 presidency.
Speaking at a media briefing at the close of business, Deputy Finance Minister David Masondo reiterated the importance of cooperation in firing up the global economies.
"A renewed pledge was made to strengthen multilateral cooperation to address existing and emerging risks to the global economy."
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Deputy finance minister David Masondo says the Appropriation Bill before parliament has to be approved urgently or the national government cannot disburse funds from May's budget and this will increasingly hamper the government's ability to undertake authorised spending. He was addressing parliament on Wednesday, as the National Assembly adopted the main Appropriation Bill with 262 MPs in support and 90 against. He said the bill will allow the government to spend R1.2-trillion on basic services, social grants and infrastructure projects to improve the lives of all South Africans. 'We must not delay the passing of this bill or object to it. Because delays in passing this bill carry two consequences. The first is that without passing this bill, the government will be without authority or permission to spend beyond last year's allocation. As a result, the government will not fully provide services, including public servants. 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