Mining News

Godongwana describes commodity windfall as temporary as he holds consolidation line

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Finance Minister Enoch Godongwana indicated on Thursday that government regarded the revenue windfall that had arisen as a result of higher commodity prices as temporary and confirmed that fiscal consolidation would, thus, be sustained to reduce the Budget deficit and stabilise the national debt. However, he also announced that, barring any major new shocks or unbudgeted spending commitments, the consolidation would yield a primary fiscal surplus in 2024/25, bringing fiscal consolidation to an end.

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