South African Finance Minister Enoch Godongwana ruled out any major tax changes in next month’s budget and stressed the importance of keeping fiscal consolidation on track.
“It’s not something we intend to to make major, substantial tax changes in the Feb. 25 budget, Godongwana told Bloomberg Television in an interview at the World Economic Forum in Davos, Switzerland, on Friday.
The minister, who will enter a pre-budget quiet period for public comments on 26 January, also highlighted the need to maintain fiscal discipline.
“Fiscal consolidation is a necessary but insufficient condition for growth,” Godongwana said.
Without fiscal consolidation, “it’s difficult to achieve all other associated growth-enhancing policies.”
South African assets are enjoying their best performance in years, with the stock market up, bond yields down and the rand rallying to its strongest levels against the dollar since 2022 as investors take stock of some recent positive developments.
These include a
You’ve reached your free article limit
Subscribe to enjoy unlimited access to trusted journalism. Cancel anytime.
Subscribe nowNeed help? molokom@insidepolitic.co.za
