South Africa Says War Puts $130 Billion Revenue Goal at Risk
A resident looks out towards the skyline of the central business district in Johannesburg.
Photographer: Michele Spatari/BloombergSouth Africa’s newly appointed tax commissioner warned that the Iran war could undermine the government’s ability to meet its revenue targets, as rising fuel prices drive costly subsidies and threaten to slow economic growth.
“We are worried” about the 2.13 trillion rand ($130 billion) revenue forecast in the 2026 budget, said Johnstone Makhubu, who became commissioner of the South African Revenue Service on May 1.