Finance Minister Enoch Godongwana will table a new revised budget on 21 May after finalising the value-added tax (VAT) reversal.
Godongwana made the announcement during a press briefing on Wednesday to provide some technical details on the process to be followed as he prepares to table a third budget in just as many months.
The Finance Minister said the revised budget will also have to manage government costs better and unlock barriers to create more jobs while maintaining social assistance for the most vulnerable.
Enoch Godongwana
Godongwana addressed a rare media briefing, where he provided some insights into the process as he prepares to table a revised budget.
He also provided an official date for the new budget, which he said will leave the VAT rate unchanged at 15 percent while maintaining social grants.
“If we work together and stay focused and persevere, we can chart a better course for our economy and our people. That is my commitment to South Africans and that is what we will be able to achieve when we table the new budget on the 21st of May.”
Godongwana said the country is dealing with “uncharted” terrain and discussions in the Government of National Unity (GNU) were a bit “messy” to say the least.
“I’m not going to put the blame on anybody. But that process on its own, because all of us are new in this thing, was messy,” he said.
On whether parliament will finally accept the new budget, Godongwana said he can’t second-guess the institution and will leave everything in the hands of MPs.
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