The national treasury does not intend to raise taxes to make sure South Africa maintains a primary budget surplus over the next few years, says Deputy Finance Minister David Masondo.
He made the comment as a member of the audience at an event hosted by Rand Merchant Bank on Thursday morning, a day after Finance Minister Enoch Godongwana presented the medium-term budget policy statement (MTBPS) in parliament.
One of the more positive aspects of this year's MTBPS is the fact that South Africa will see a primary surplus for the first time in 15 years, meaning government expenditure is lower than revenue.
The treasury made a commitment in the MTBPS to target a primary budget surplus for the next decade.
Asked if a primary surplus is indeed possible for 10 consecutive years, Masondo jokingly said he was merely present at the event "to support" Godongwana, but he nevertheless responded to the question.
This story is from the November 02, 2024 edition of The Citizen.
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This story is from the November 02, 2024 edition of The Citizen.
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