The government has successfully contained national expenditure, resulting in improved revenue collection, the Vice President and Minister of Finance Ndaba Gaolathe told Parliament yesterday.
Addressing Members of Parliament(MPs), Gaolathe noted that fiscal containment strategies have allowed the government to stabilise spending and enhance its ability to collect revenue. He reported that from November 2024 to June 2025, revenue collection reached P47 billion, up from P39 billion during the 2023/24 financial year.
“There is reason to have hope, but let it be cautious hope,” said Gaolathe. “We have since restored our government accounting and budgeting system, and therefore our planning will be better.”
He acknowledged the country is still facing challenging financial conditions but stressed that the improvement in revenue performance provides a glimmer of hope.
Gaolathe also revealed that the revenue collection system had previously operated without sufficient checks and balances, but emphasised that corrective steps are now being taken to strengthen oversight and improve financial governance.
