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BUDGET: Weak economic performance results in sharp tax revenue shortfall [SOUND]

# Finance minister Enoch Godongwana has revealed that tax revenue for 2023/24, sitting at 7.73-trillion-rand, is 56.1-billion-rand lower than estimated. Delivering the Budget speech this afternoon, Godongwana said that this shortfall is attributed to the weak performance of the economy, resulting in a sharp deterioration in tax revenue collection. He says the decline in corporate profits and revenue from taxes on mining are among the factors contributing to this shortfall:

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