Photo by: GCIS
FISCAL TIDE: Finance Minister Enoch Godongwana insisted that South Africa’s fiscal sustainability tide was finally turning last week when he delivered his maiden Budget address in the Good Hope Chamber, after theNational Assembly building was seriously damaged in a deliberately lit fire in early January. Boosted by higher‐than‐anticipated tax revenues on the back of the commodity boom, the Minister said a portion of the R182-bilion windfall would be used to narrow the deficit and rein in debt. Gross loan debt is projected to stabilise at 75.1% of GDP in 2024/25, a year earlier and at a lower level than the figure projected in 2021.