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MTBPS: Announcing spending cuts, Godongwana paints grim picture of SA's finances

Summary by Ground News
Finance Minister Enoch Gondongwana has indicated that taxes can be expected to increase in the new financial year. He has provided some cushion for the vulnerable, extending the original COVID-19 social relief of distress grant for another year, to March 2025. Revenue collected in this financial year is expected to be R56.8 billion below previous estimates.
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Eyewitness NewsEyewitness News

MTBPS: Announcing spending cuts, Godongwana paints grim picture of SA's finances

With revenue less than projected, soaring debt-interest costs and an underperforming economy, Finance Minister Enoch Gondongwana has indicated that taxes can be expected to increase in the new financial year.

·South Africa
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Eyewitness News broke the news in South Africa on Wednesday, November 1, 2023.
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