Godongwana Plays Down Big Tax Changes in South Africa Budget (1)

South African Finance Minister Enoch Godongwana ruled out any major tax changes in next month’s budget and stressed the importance of keeping fiscal consolidation on track.

“It’s not something we intend — making major, substantial” tax changes in the Feb. 25 budget, Godongwana told Bloomberg Television in an interview at the World Economic Forum in Davos, Switzerland on Friday.

The minister, who will enter a pre-budget quiet period for public comments on Jan. 26, also highlighted the need to maintain fiscal discipline.

WATCH: South African Finance Minister Enoch Godongwana speaks with Bloomberg’s Francine Lacqua at the World Economic Forum’s annual gathering in Davos, Switzerland.

Source: Bloomberg

“Fiscal consolidation is a necessary but insufficient condition for growth,” Godongwana said. Without fiscal consolidation “it’s difficult ...