10 things worth knowing about the mini budget

2013-10-23 17:37

Multimedia   ·   User Galleries   ·   News in Pictures Send us your pictures  ·  Send us your stories

Carien du Plessis selects highlights from today’s medium-term budget speech.

1. Economic growth is projected to be 2.1%, down from the 2.7% projected in the February budget statement. It will rise to 3.5% in 2016.

2. Tax collection for 2013/14 has been revised down marginally by R3 billion, to R895 billion, because of growth slowdown.

3. Personal income tax collection remains strong because of high wage settlements and corporate income tax has been robust.

4. Government will meet the 2013/14 fiscal deficit target of 4.2%. The deficit is set to improve in the next three years.

5. Massive belt-tightening measures for government workers were announced by Finance Minister Pravin Gordhan.

6. State-owned companies facing persistent difficulties will require operational restructuring.

7. Treasury proposes spend of R1.24 trillion in 2014/15, R1.34 trillion in 2015/16 and R1.44 trillion in 2016/17.

8. Government will spend R1.05 trillion in 2013/14, R5.7 billion less than estimated in the 2013 budget in February.

9. R2 billion was unspent from the social development budget because of a grants-system cleanup of fraudsters and ineligible recipients.

10. Debt-service costs will rise from R100.5 billion in 2013/14 to R135.4 billion in 2016/17.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.