Mthuli raises RTGS$ 6 billion on taxes

Minister of Finance and Economic Development has raised at least $6 billion against a target of $6,68 billion by year end.

The Minister of Finance informed Cabinet during its deliberations yesterday.

While giving feedback on 100 days progress Minister Mthuli said, “With regard to resource mobilisation, RTGS$6.09 billion has been realised from tax revenue, out of the targeted RTGS$6.68 billion”

Minister Mthuli said

On expenditure targets, adjustments had to be effected as a result of the prevailing negative economic environment, with RTGS$3.05 billion having been disbursed, against a target of RTGS $7.68 billion.

The breakdown is as follows, salaries RTGS$1.7 billion, Social Spending RTGS$64.6 million; and Capital Spending, RTGS$1.25 billion.

Minister Mthuli said with regard to financial re-engagement, seven out of nine Staff Monitored Structural benchmark targets have been met, including under Smart Agriculture financing.