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South Africa’s Tax Boss Welcomes Finance Ministry Appointments

South African tax head Edward Kieswetter welcomed the reappointment of Finance Minister Enoch Godongwana and his deputy, David Masondo, saying under their leadership the country will continue on the path of sustainable fiscal consolidation that will facilitate economic growth. 
Bloomberg
By Bloomberg
3 Jul
BM neesa coro A South African Revenue Service branch in Cape Town on 25 June 2021. (Photo: Gallo Images / ER Lombard) | SARS commissioner Edward Kieswetter. (Photo: Dwayne Senior / Bloomberg via Getty Images) | Coronation Fund Managers. (Photo: Supplied)

The National Treasury estimated in its annual budget in February that debt-to-gross domestic product will stabilize at 75.3% in the 2025-26 fiscal year. In 2023-24 it was 74.1%, well above the emerging-market average of 58.9%.Kieswetter also cheered the appointment of Ashor Sarupen as the second deputy finance minister in the coalition executive leadership unveiled by President Cyril Ramaphosa on June 30.

In a Bloomberg Television interview on Tuesday, central bank Governor Lesetja Kganyago said Godongwana’s reappointment gives “comfort.” Ramaphosa earlier this year reappointed Kganyago to another five-year term and extended Kieswetter’s tenure as head of the revenue service.

The revenue service “is looking forward to a cordial working relationship with the finance team, under the inspired leadership of the minister, to fulfill its mandate,” Kieswetter said.

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