Talk of 'adjusting' tax as revenue falls
Tito Mboweni said government revenue for the current year is now expected to come in almost R53bn below target
03 November 2019 - 00:18
A weak economy and poor job and pay prospects have pushed the projected revenue shortfall to a cumulative R251bn over the next three years, the Treasury revealed in the medium-term budget policy statement on Wednesday.
The shortfalls, along with R161bn in Eskom bailouts, will see budget deficits climb 2.2 percentage points higher, on average, than finance minister Tito Mboweni projected in February, with the government's debt set to jump to more than 70% of the size of the economy over the three years if nothing is done to arrest the slide...
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.
Subscribe now to unlock this article.
Support BusinessLIVE’s award-winning journalism for R129 per month (digital access only).
There’s never been a more important time to support independent journalism in SA. Our subscription packages now offer an ad-free experience for readers.
Cancel anytime.
Questions? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now.