Nene says outlook for tax revenues unchanged

May 22, 2018 Siyabonga Mtangana

Finance Minister Nhlanhla Nene

JOHANNESBURG – South Africa Finance Minister Nhlanhla Nene said on Tuesday that the outlook for tax revenues remain unchanged, in a blow to the chances of reducing the budget deficit.

Nene made the comments in parliament.

Treasury Director General Dondo Mogajane said earlier this month that South Africa will struggle to raise the tax revenues needed to reduce a budget deficit and support fragile economic growth due to ongoing problems in tax administration.

Minister Nhlanhla Nene #NTBudgetVote2018: We must continue to rebuild our resilience to ensure that we can respond to exogenous shocks that may arise from geopolitical events, or volatile financial markets. We need to rebuild trust in our public institutions and their integrity.

— National Treasury (@TreasuryRSA) May 22, 2018

Minister Nhlanhla Nene #NTBudgetVote2018: We have already seen some progress since the Budget – the outstanding projects under the renewable energy independent power producer programme have been concluded and will unlock investment of R56-billion and create around 58,000 jobs.

— National Treasury (@TreasuryRSA) May 22, 2018

Minister Nhlanhla Nene #NTBudgetVote2018: With regards to DBSA, during 2017/18, R8.7-billion was committed for funding, of which R3.5-billion was to municipalities and will impact approximately 77,580 households. the remaining R5.2-billion in commitments is in renewable energy.

— National Treasury (@TreasuryRSA) May 22, 2018

Minister Nene #NTBudgetVote2018: National Treasury continues to work with sister Departments to ensure the Government undertakes the key regulatory and structural reforms to raise growth. This includes improving policy certainty & strengthening the role of economic regulators.

— National Treasury (@TreasuryRSA) May 22, 2018

– REUTERS

Source: iol.co.za

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