{"id":55957,"date":"2023-11-02T16:08:51","date_gmt":"2023-11-02T16:08:51","guid":{"rendered":"https:\/\/www.africa-press.net\/south-africa\/all-news\/this-years-mtbps-one-of-the-hardest-treasurys-had-to-produce-says-godongwana"},"modified":"2023-11-02T16:18:33","modified_gmt":"2023-11-02T16:18:33","slug":"this-years-mtbps-one-of-the-hardest-treasurys-had-to-produce-says-godongwana","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/south-africa\/all-news\/this-years-mtbps-one-of-the-hardest-treasurys-had-to-produce-says-godongwana","title":{"rendered":"THIS YEAR&#8217;S MTBPS ONE OF THE HARDEST TREASURY&#8217;S HAD TO PRODUCE, SAYS GODONGWANA"},"content":{"rendered":"<p><span style=\"color: #ff6600\"><strong>Africa-Press &#8211; South-Africa. <\/strong><\/span>Finance Minister Enoch Godongwana told Parliament\u2019s finance committees on Thursday that the fiscal path he outlined on Wednesday would set the country\u2019s finances on a rocky road to recovery.<\/p>\n<p>Finance Minister Enoch Godongwana said this year\u2019s Medium-Term Budget Policy Statement was one of the hardest the National Treasury has ever had to produce.<\/p>\n<p>He told Parliament\u2019s finance committees on Thursday that the fiscal path he outlined on Wednesday would set the country\u2019s finances on a rocky road to recovery.<\/p>\n<p>But Godongwana remained cautious about whether taxes would be raised in the new budget year to make up a shortfall of R15 billion.Godongwana said that at the heart of the financial crunch was the stagnant economy and the optimistic estimates made when he tabled the main budget in February.<\/p>\n<p>With revenue far lower than expected, government has to trim state allocations and borrow more money.<\/p>\n<p>&#8220;We are on a rocky road to recovery with some speed bumps, which make it difficult for us to achieve the required revenue collection and therefore that has implications on our movements forward.&#8221;<\/p>\n<p>While budget documents indicate that tax hikes are imminent, Gdongwana is not revealing anything more.<\/p>\n<p>&#8220;I think it\u2019s too early to make such a commitment whether we will increase tax or not.&#8221;<\/p>\n<p>Opposition parties say they are neither in favour of a hike in value-added tax (VAT) nor in personal income tax, which will further burden already cash-strapped citizens.<\/p>\n<p><iframe loading=\"lazy\" title=\"&#039;He never mentioned the cost of living once&#039; -  reactions to Godongwana&#039;s #MTBPS2023\" width=\"696\" height=\"392\" src=\"https:\/\/www.youtube.com\/embed\/bZCzaBj-0jc?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" allowfullscreen><\/iframe><\/p>\n<p><strong>For More News And Analysis About <a href=\"https:\/\/www.africa-press.net\/south-africa\">South-Africa<\/a> Follow <a href=\"https:\/\/www.africa-press.net\/\">Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Africa-Press &#8211; South-Africa. Finance Minister Enoch Godongwana told Parliament\u2019s finance committees on Thursday that the fiscal path he outlined on Wednesday would set the country\u2019s finances on a rocky road to recovery. Finance Minister Enoch Godongwana said this year\u2019s Medium-Term Budget Policy Statement was one of the hardest the National Treasury has ever had to [&hellip;]<\/p>\n","protected":false},"author":84,"featured_media":55955,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12,18],"tags":[274,315,275],"class_list":["post-55957","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","category-video","tag-africa-press","tag-africa-press-south-africa","tag-south-africa-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v26.1 (Yoast SEO v27.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>THIS YEAR&#039;S MTBPS ONE OF THE HARDEST TREASURY&#039;S HAD TO PRODUCE, SAYS GODONGWANA - South Africa<\/title>\n<meta name=\"description\" content=\"Finance Minister Enoch Godongwana told 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