Market Watch

Tax shortfall of R22 billion is a major blow to social spending

Social spending affected

Enoch Godongwana, the minister of finance, said last Wednesday that the tax collection for the year will now be R22 billion less than the target of R1.863 trillion

Riana De Lange

1 Dag Gelede - 2024-11-05 00:00:00

More than 8 400 teachers and 2 500 doctors’ annual salaries, approximately 12 000 basic housing units, and a staggering 675 027 social relief grants of R350 each – this is what

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Premier League: Fulham 2 vs 1 Brentford | Manchester United 1 vs 1 Chelsea | Tottenham Hotspur 4 vs 1 Aston Villa Katima Mulilo: 22° | 37° Rundu: 21° | 36° Eenhana: 22° | 36° Oshakati: 22° | 35° Ruacana: 21° | 36° Tsumeb: 21° | 33° Otjiwarongo: 18° | 33° Omaruru: 20° | 36° Windhoek: 19° | 33° Gobabis: 18° | 36° Henties Bay: 14° | 21° Wind speed: 22km/h, Wind direction: W, Low tide: 11:33, High tide: 05:50, Low Tide: 23:58, High tide: 17:56 Swakopmund: 14° | 16° Wind speed: 19km/h, Wind direction: NW, Low tide: 11:31, High tide: 05:48, Low Tide: 23:56, High tide: 17:54 Walvis Bay: 13° | 22° Wind speed: 22km/h, Wind direction: NW, Low tide: 11:31, High tide: 05:47, Low Tide: 23:56, High tide: 17:53 Rehoboth: 18° | 35° Mariental: 19° | 37° Keetmanshoop: 18° | 37° Aranos: 18° | 38° Lüderitz: 13° | 23° Ariamsvlei: 17° | 36° Oranjemund: 14° | 31° Luanda: 25° | 26° Gaborone: 16° | 32° Lubumbashi: 17° | 32° Mbabane: 12° | 18° Maseru: 9° | 29° Antananarivo: 16° | 30° Lilongwe: 25° | 33° Maputo: 19° | 24° Windhoek: 19° | 33° Cape Town: 14° | 26° Durban: 16° | 17° Johannesburg: 15° | 28° Dar es Salaam: 26° | 32° Lusaka: 22° | 33° Harare: 19° | 30° Currency: GBP to NAD 22.73 | EUR to NAD 18.99 | CNY to NAD 2.47 | USD to NAD 17.66 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.06 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 133.1 | USD to AOA 909.05 | USD to BWP 13.33 | USD to EGP 49.08 | USD to KES 129.2 | USD to NGN 1664.36 | USD to ZAR 17.66 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1878.44 Up +0.10% | Casablanca Stock Exchange (CSE) MASI 14296.93 Down -0.02% | Egyptian Exchange (EGX) 30 Index 30793.94 Up +0.47% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 739.98/OZ DOWN -0.0021 | Copper US$ 4.36/lb DOWN -0.0192 | Zinc US$ 3 060.10/T DOWN -2.07% | Brent Crude Oil US$ 74.73/BBP DOWN -0.0145 | Platinum US$ 985.17/OZ DOWN -0.0125 Sport results: Premier League: Fulham 2 vs 1 Brentford | Manchester United 1 vs 1 Chelsea | Tottenham Hotspur 4 vs 1 Aston Villa Weather: Katima Mulilo: 22° | 37° Rundu: 21° | 36° Eenhana: 22° | 36° Oshakati: 22° | 35° Ruacana: 21° | 36° Tsumeb: 21° | 33° Otjiwarongo: 18° | 33° Omaruru: 20° | 36° Windhoek: 19° | 33° Gobabis: 18° | 36° Henties Bay: 14° | 21° Wind speed: 22km/h, Wind direction: W, Low tide: 11:33, High tide: 05:50, Low Tide: 23:58, High tide: 17:56 Swakopmund: 14° | 16° Wind speed: 19km/h, Wind direction: NW, Low tide: 11:31, High tide: 05:48, Low Tide: 23:56, High tide: 17:54 Walvis Bay: 13° | 22° Wind speed: 22km/h, Wind direction: NW, Low tide: 11:31, High tide: 05:47, Low Tide: 23:56, High tide: 17:53 Rehoboth: 18° | 35° Mariental: 19° | 37° Keetmanshoop: 18° | 37° Aranos: 18° | 38° Lüderitz: 13° | 23° Ariamsvlei: 17° | 36° Oranjemund: 14° | 31° Luanda: 25° | 26° Gaborone: 16° | 32° Lubumbashi: 17° | 32° Mbabane: 12° | 18° Maseru: 9° | 29° Antananarivo: 16° | 30° Lilongwe: 25° | 33° Maputo: 19° | 24° Windhoek: 19° | 33° Cape Town: 14° | 26° Durban: 16° | 17° Johannesburg: 15° | 28° Dar es Salaam: 26° | 32° Lusaka: 22° | 33° Harare: 19° | 30° Economic Indicators: Currency: GBP to NAD 22.73 | EUR to NAD 18.99 | CNY to NAD 2.47 | USD to NAD 17.66 | DZD to NAD 0.13 | AOA to NAD 0.02 | BWP to NAD 1.28 | EGP to NAD 0.35 | KES to NAD 0.14 | NGN to NAD 0.01 | ZMW to NAD 0.64 | ZWL to NAD 0.04 | BRL to NAD 3.06 | RUB to NAD 0.18 | INR to NAD 0.21 | USD to DZD 133.1 | USD to AOA 909.05 | USD to BWP 13.33 | USD to EGP 49.08 | USD to KES 129.2 | USD to NGN 1664.36 | USD to ZAR 17.66 | USD to ZMW 26.95 | USD to ZWL 321 | Stock Exchange: JSE All Share Index Same 0 | Namibian Stock Exchange (NSX) Overall Index 1878.44 Up +0.10% | Casablanca Stock Exchange (CSE) MASI 14296.93 Down -0.02% | Egyptian Exchange (EGX) 30 Index 30793.94 Up +0.47% | Botswana Stock Exchange (BSE) DCI Same 0 | NSX: MTC 7.75 SAME | Anirep 8.99 SAME | Capricorn Investment group 17.34 SAME | FirstRand Namibia Ltd 49 DOWN 0.50% | Letshego Holdings (Namibia) Ltd 4.1 UP 2.50% | Namibia Asset Management Ltd 0.7 SAME | Namibia Breweries Ltd 31.49 UP 0.03% | Nictus Holdings - Nam 2.22 SAME | Oryx Properties Ltd 12.1 UP 1.70% | Paratus Namibia Holdings 11.99 SAME | SBN Holdings 8.45 SAME | Trustco Group Holdings Ltd 0.48 SAME | B2Gold Corporation 47.34 DOWN 1.50% | Local Index closed 677.62 UP 0.12% | Overall Index closed 1534.6 DOWN 0.05% | Osino Resources Corp 19.47 DOWN 2.41% | Commodities: Gold US$ 2 739.98/OZ DOWN -0.0021 | Copper US$ 4.36/lb DOWN -0.0192 | Zinc US$ 3 060.10/T DOWN -2.07% | Brent Crude Oil US$ 74.73/BBP DOWN -0.0145 | Platinum US$ 985.17/OZ DOWN -0.0125