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
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...
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.
There’s never been a more important time to support independent media.
From World War 1 to present-day cosmopolitan South Africa and beyond, the Sunday Times has been a pillar in covering the stories that matter to you.
For just R80 you can become a premium member (digital access) and support a publication that has played an important political and social role in South Africa for over a century of Sundays. You can cancel anytime.
Already subscribed? Sign in below.
Questions or problems? Email helpdesk@timeslive.co.za or call 0860 52 52 00.