{"id":15114,"date":"2025-11-12T14:05:23","date_gmt":"2025-11-12T12:05:23","guid":{"rendered":"http:\/\/jhb-webdevelopers\/channelafrica\/news\/sa-government-shelves-vat-hike-as-revenue-projections-improve\/"},"modified":"2026-02-27T16:27:27","modified_gmt":"2026-02-27T14:27:27","slug":"sa-government-shelves-vat-hike-as-revenue-projections-improve","status":"publish","type":"news","link":"https:\/\/www.channelafrica.co.za\/channelafrica\/news\/sa-government-shelves-vat-hike-as-revenue-projections-improve\/","title":{"rendered":"SA government shelves VAT hike as revenue projections improve"},"content":{"rendered":"<p>This follows stronger-than-expected revenue collection, which National Treasury says will exceed earlier projections by $1.24 million.<\/p>\n<p>&nbsp;<\/p>\n<p>Government says part of the additional revenue will be channelled towards growth-enhancing infrastructure projects and to cover costs related to next year\u2019s local government elections.<\/p>\n<p>&nbsp;<\/p>\n<p>Finance Minister Enoch Godongwana said public debt is now expected to stabilise at 77.9% of gross domestic product (GDP) in the 2025\/26 financial year, the first time since the 2008 global financial crisis that debt will not rise as a share of GDP.<\/p>\n<p>&nbsp;<\/p>\n<p>\u201cGovernment debt will stabilise in 2025\/26 at 77.9% of GDP. This is the first time since the 2008 financial crisis that public debt will not grow as a percentage of GDP. Since 2008, spending has consistently exceeded revenue, driving up debt and debt-service costs. These costs crowded out spending on critical services and exerted pressure on lending rates across the economy,\u201d Godongwana said.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8211;SABC\/ChannelAfrica&#8211;<\/p>\n","protected":false},"featured_media":15115,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-15114","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"The South African (SA) government has confirmed that the proposed Value Added Tax (VAT) increase announced in the 2025 Budget will no longer go ahead.\u00a0","published_date":null,"news_description":"The South African (SA) government has confirmed that the proposed Value Added Tax (VAT) increase announced in the 2025 Budget will no longer go ahead.\u00a0","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15114\/revisions"}],"predecessor-version":[{"id":19493,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/15114\/revisions\/19493"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/15115"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=15114"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=15114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}