South Africa Marks ‘Turning Point’ as Tax Boon Boosts Budget (1)

South Africa is heading into its latest budget with a rare sense of optimism — and the chance to mark a turning point for the nation’s long-strained public finances.

After years of rising debt and missed targets, stronger-than-expected revenue collections and restrained government spending have given the National Treasury room to breathe. A surge in mining profits, driven by buoyant commodity prices, has boosted revenue, while delays in approving the budget earlier this year — caused by wrangling over tax hikes within the new coalition government — inadvertently curbed expenditure.

There’s no expectation of a similar fight when Finance Minister ...