SA on track to meet revenue and fiscal targets - Treasury
South Africa will achieve strict consolidation targets set out in the budget, the Treasury said yesterday.
CAPE TOWN - South Africa will achieve the strict consolidation targets set out in the budget the Treasury said on Tuesday, despite recent signs that the economy was headed for a prolonged period of low growth.
"In our case we are still convinced for this year that we will most likely achieve the revenue target that we put out, most likely achieve the fiscal consolidation," Director General at the Treasury Lungisa Fuzile told parliament.
Finance Minister Pravin Gordhan tabled a package of spending cuts, civil service job freezes and moderate tax hikes in the budget in February, aimed at holding off credit downgrades by ratings agencies that have cited poor growth as major risk.