Fitch casts doubt on credibility of Godongwana's budget

Credit ratings agency Fitch on Tuesday expressed doubts about the credibility of last week's budget, suggesting that the revenue projections were too optimistic and not all the costs of support to state-owned enterprises that were likely to arise had been factored in. 

Last week, the budget tabled in Parliament made it possible for the Treasury to project a declining budget deficit from 4.9% in 2023/24 to 3.7% in 2024/25. 

But Fitch said in a statement that it did not expect these targets to be achieved.