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South African bank notes and coins.
Consultancy firm PricewaterhouseCoopers (PWC) says it expects the National Treasury to announce a tax revenue shortfall of about R10 billion relative to its expectations in the mid-term budget tabled in October last year.
Treasury said it expected to raise just over R1.84 trillion in taxes at the time.
PWC says it doesn’t expect any major tax increases in the upcoming tabling of the National Budget 2025, except for the usual sin taxes and maybe an inflation increase in the fuel levy.
Finance Minister Enoch Godongwana is expected to table his 2025 budget on Wednesday.
The consultancy says it remains concerned about government being able to keep tabs on public debt, given a number of priorities that need funding.
Budget 2025 expectations:
