IEJ POLICY BRIEF - MEDIUM-TERM BUDGET POLICY STATEMENT - IS SOUTH AFRICA
Coherent Identifier 20.500.12592/xcs434

IEJ POLICY BRIEF - MEDIUM-TERM BUDGET POLICY STATEMENT - IS SOUTH AFRICA

12 October 2023

Summary

REVENUE SHORTFALL 2.1 THE SCALE OF THE POTENTIAL further shortfall of around R32.6 billion for the remainder REVENUE SHORTFALL IN of the fiscal year. [...] Similarly to the revenue shortfall, the projected expenditure The majority of this shortfall, is therefore, the overrun for 2023/24, and its scale, is not unprecedented. [...] Without changes to National Treasury the central goal of fiscal policy is to in the fiscal trajectory, we estimate that the main budget “stabilise the national debt-to-GDP ratio by closing the deficit, as a share of GDP, will reach -6.29% in 2023/24, budget deficit”21. [...] bond holdings in the first half of the year alone (having This is in line with the average of 10% in the past decade. [...] Through appropriate to undertake a thorough spending review various mechanisms the government influences the flow and assess genuine needs and how best the fiscus of investment and credit in the economy.

Pages
19
Published in
South Africa

Tables

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