South Africa Says War Puts $130 Billion Revenue Goal at Risk (2)

South 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.

“We see an April that is not alarming,” he said during an interview at Bloomberg’s Johannesburg office on Wednesday. “But I’m sure I can bet my last dollar that in May, the impact is ...