(Reuters) - South Africa will use extra tax revenues for the 2006/07 fiscal year, and a larger budget surplus, to cut debt and reduce government bond issuance, the Treasury said.
Finance Minister Trevor Manuel announced on Saturday strong economic growth and more efficient revenue collection had boosted the tax take to 494 billion rand, exceeding the 489.7 billion rand forecast in the Budget in February, which itself was 29 billion over original estimates.
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