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South Africa likely to announce primary Budget surplus and no big tax increases

The article from MSN discusses South Africa's upcoming Medium-Term Budget Policy Statement (MTBPS) scheduled for November 1, 2023. Finance Minister Enoch Godongwana is expected to announce a primary budget surplus, indicating that government revenues will exceed non-interest expenditures. This surplus is anticipated due to better-than-expected tax collections and a slight economic recovery. The article suggests that there will be no significant tax increases in this budget, focusing instead on expenditure control and possibly some reallocations. The government aims to manage its debt levels, which have been a concern, by potentially reducing borrowing and focusing on fiscal consolidation. However, the budget will still need to address ongoing issues like state-owned enterprise bailouts, particularly for Eskom, and public sector wage negotiations, which could impact the fiscal outlook.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/politics/government/south-africa-likely-to-announce-primary-budget-surplus-and-no-big-tax-increases/ar-AA1z8tjT ]