EDITORIAL: Fiscal turnaround gets the nod, but growth remains SA’s achilles heel
Moody’s points to ‘deep structural constraints’ and is not too excited about reform efforts
06 April 2022 - 05:00
The fiscal year end figures from the SA Revenue Service (Sars) show a final tax collection number for fiscal 2021/2022 that is even better than February’s budget number, which had already been revised up by an extraordinary R182bn, or just more than R200bn if other revenues such as mining royalties are included.
In the extra few weeks between the budget and midnight on March 31, Sars managed to bring in R16.7bn more. The result, Absa’s economists estimate, is that the main budget deficit for the year will come in at 5.3% or less, compared with February’s 5.5% projection...
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