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South Africa's revenue performance for the 2009/10 fiscal year was "phenomenal", Finance Minister Pravin Gordhan said on Thursday.
"By midnight last night [Wednesday] the South African Revenue Service (Sars) had collected R598,5-billion in revenue for the financial year 2009/10 - R8,1-billion more than the revised estimate announced in the February 2010 Budget," Gordhan told media in Johannesburg.
Gordhan, Deputy Finance Minister Nhlanhla Nene and Sars commissioner Oupa Magashula all wore Bafana Bafana soccer jerseys.
Gordhan said that revenue performance had confirmed that South Africa's economy was on its way to recovery.
"Economic growth in South Africa wasn't as badly damaged as we thought."
More good news was that the projected budget deficit had narrowed to R166,1-billion or 6,8% of gross domestic product from 7,3% published in February 2010, he said.
"I want to thank Sars staff for the magnificent work they have done and the remarkable energy with which they conducted their mandate," Gordhan said.
The minister also expressed his gratitude to business and individual taxpayers.
However, he said that there were always those who thought the law did not apply to them.
Edited by: Sapa
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Finance Minister Pravin Gordhan. Camera: Nicholas Boyd. Editing: Darlene Creamer.
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