SD, SACU MEMBERS WILL SHARE E51.7BN

MBABANE – Swaziland and the other the other Southern African Customs Union (SACU) members, excluding South Africa, will  share E51.7 billion for the year 2015/16, South Africa Minister of Finance Nhlanhla Nene said.

 If the news that Swaziland will get 10 per cent revenue holds true, as per the new sharing formula, about E5.17 billion could be received as the next receipt.
When delivering the Budget Speech yesterday, Nene said: “Including non-tax revenue, social security funds and other receipts and after deducting R51.7 billion, which goes to SACU partner countries, the consolidated budget revenue will be R1 091 billion this year or about 8.2 per cent more than in 2013/14.”

Nene said the period ahead would also see large shifts in customs receipts, with potentially adverse implications for South Africa’s partner countries.
He further said South Africa remains keen to see a revised and improved revenue sharing arrangement that would stabilise and safeguard these resource flows.

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