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Economists See Better Tax Collections; ANC Pushing in on the Rollout Action

SOUTH AFRICA

LOCAL NEWS

  • Local economists note better than expected tax collections could offset the need for new taxes at the 24 Feb budget, provided collections keep their current pace (estimated to be R106.5bn).
    • BNP Paribas says the Treasury has built cash balances of ~R150bn, which can be drawn down upon - mitigating the need for issuance or taxes.
    • "We've got the funds, we just need to allocate it in the budget framework". Revised estimates for 2020-21 collection and implications for pre-announced tax increases will be announced in the budget
  • ANC business wing pushing to be included in vaccine rollout contracts.
    • Critics warn this could see a repeat of the R7.5bn lost due to wasteful spending on PPE at the start of the pandemic
  • ANC warns the risk of future alcohol bans are not inconceivable if the country suffers further waves of infections - Fin24
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
BulletEM BulletEmerging Market News

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