Finance Minister Enoch Godongwana says government is set to allocate at least R6 billion more to the rebuilding and humanitarian relief efforts in disaster-hit areas across the country.
Finance Minister Enoch Godongwana says over the next year, National Treasury will work closely with provincial and local governments in order to address “dysfunctional” service delivery.
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.
