Gross government debt is expected to stabilise at 71.4% of the gross domestic product (GDP) in 2022/23 — two years earlier and at a lower level than projected in the 2022 Budget.
South Africa’s economic growth is expected to slow to 1.9% in 2022, says Finance Minister Enoch Godongwana.
Finance Minister Enoch Godongwana says government debt is projected to be more than R4.7 trillion in the current financial year, compared to R627 billion in 2008/09.
The COVID-19 Social Relief of Distress (SRD) Grant – also known as the R350 grant – is expected to be extended to the end of March 2024.
Finance Minister Enoch Godongwana says government will continue to crack down on companies like Bain, which contributed to the widespread looting and corruption that took place during the years of State capture.
Following a strong showing in the first half of the 2022/23 financial year, the National Treasury has revised up the country’s tax revenue collection by an estimated R83.5 billion.
Government will over the next three years, implement a fiscal strategy aimed at consolidating public finances and reducing risk to the country’s economy, said National Treasury.
The South African economy will over the next three years grow by a moderate 1.6%, the National Treasury projects.
National Treasury is doing everything necessary to prevent greylisting by the Financial Action Task Force (FATF), says Finance Minister Enoch Godongwana.
Finance Minister Enoch Godongwana says National Treasury is devising a plan that will see the country’s procurement and financial accountability system strengthened.
Government expenditure will in the next three years focus on restoring service delivery and laying the foundation for higher growth, says Finance Minister Enoch Godongwana.
The Gauteng Provincial Government has agreed to contribute 30% to settling SANRAL’s debt and interest obligations on the province’s lingering Freeway Improvement Project, Finance Minister Enoch Godongwana announced on Wednesday.
Government plans to embark on an Eskom debt relief programme that will see it take over a portion of the utility’s R400 billion debt.
National Treasury has warned that the poor financial condition of major State-owned companies (SOEs) presents government with the most contingent liability risks.
Time is running out for those who want to pursue careers that are in line with the water and sanitation core business, to submit applications for the bursary programme for 2023 academic year.
