Budget’s focus on taxpayer relief bodes well for bill payments
South African’s can say thank you to the Minister of Finance for providing some tax relief during his maiden Budget speech that will put money back into their pockets – something that bodes well for economic activity and the bill payments sector.
In the 2022 Budget Speech, delivered by Finance Minister Enoch Godongwana on Wednesday, South Africa’s economic growth estimates sat at 4.8% and the real GDP growth of 2.1% is projected for 2022. These estimates reflect how the country has weathered global developments and South Africa’s own unique challenges, said Minister Godongwana.
Yet Treasury remains focused on measures to offer South Africans some economic relief, and the budget includes R5.2 billion in tax relief to help support the economic recovery, provide some respite from fuel tax i...