Budget approval hangs in the balance and resistance to it is set to play out in the legislature’s finance committees
The Democratic Alliance said the budget would struggle to pass in parliament, given the ANC’s lack of a majority
His party would have yielded if any increases were guaranteed to be temporary and tied to an overhaul of state spending patterns
Economists say the government can expect to incur inflationary and exchange rate costs from the move
A senior treasury official told MPs the intention was not to close the widening deficit through higher personal income taxes
Increases will be announced in the new year to raise an additional R15 billion in revenue
Fiscal consolidation is drawing to a close as the public purse was boosted by commodities, but the treasury will probably continue exercising restraint
The state is set to achieve a primary budget surplus a year earlier than expected
Godongwana warns that the outer limits of the budget are non-negotiable as a debt cliff loomed
The opposition party referred to the government’s economic policy as ‘hopelessly inadequate’ and an obstacle in the path towards stable public finances
Treasury officials will model the effect of the grant on the fiscus if the need arises
Analysts agree that economic relief for the poor is needed but are split on whether a grant should be permanent and whether it is affordable
The treasury forecasts 3.3% growth, but warns this will fall to 1.6% if the fledgeling vaccination programme fails to stem successive Covid waves
Finance Minister Tito Mboweni has the difficult task of kick-starting a stalled economy while also cutting on spending
The mid-term budget policy statement delivered by the finance minister proposes cutting all non-interest spending by R300-billion.
The deficit came after seven consecutive quarterly surpluses.
With growth in SA lagging that of peers after a second recession in less than a decade, tax collections have dwindled
His mini-budget speech promised a lush harvest, but analysts say a famine of ideas and a drought of solid assurances failed to convince investors
With the nation’s credit rating in terrible shape, SA’s finance minister may be forced to downgrade growth and tax forecasts in his mid-term budget.
The finance minister said government is committed to lowering the budget deficit but a sluggish economic growth outlook will present a challenge.
South Africa will confidently meet its budget deficit target of 4% GDP after the revenue service exceeded its tax target.
South Africa’s debt will make up 48% of the gross domestic product in the medium term, a pace which one economist describes as "frightening".