Godongwana faces uphill battle in mini-budget

Tough decisions on cards for finance minister as government finances and budget deficit worsen

15 October 2023 - 00:00 By Reezwana Sumad

Faced with lower-than-expected revenue growth, pressure to cut spending and a worsening fiscal deficit, finance minister Enoch Godongwana has his work cut out when he presents the medium term budget policy statement (MTBPS) on November 1. After three years of excessive revenue collection, boosted by higher corporate income tax on the back of a commodity boom, the government faces fiscal turbulence owing to a wider budget deficit and higher debt ratios...

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