Here in brief are some key points on the Budget.
Eskom will get R254 billion in debt relief which will result in government debt stabilising at 73.6% of GDP in 2025/26, later and at a higher level than in the 2022 Medium Term Budget Policy StatementsThe consolidated budget deficit will decline from 4.6% of GDP in 2021/22 to 4.2% of GDP in 2022/23, reaching 3.2% of GDP in 2025/26Debt-service costs as a per cent of main budget revenue will increase from 18% in 2022/23 to 19.8% in 2025/26 and is expected to average R366.
The additional funds are mainly to extend the COVID-19 social relief of distress grant until 31 March 2024, improve investment in local and provincial government infrastructure, and support safety and security, education and health services.Tax relief totalling R13 billion in 2023/24 to support the clean energy transition has been allocated, increase the electricity supply and limit the impact of consistently high fuel prices.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
READ IN FULL: Finance Minister Godongwana's Budget 2023 speechFinance Minister Enoch Godongwana delivered his 2023 Budget on Wednesday, 22 February 2023.
Read more »
Budget 2023: Insights from Dondo Mogajane, ex-National Treasury DGWhile markets may have been underwhelmed by the recent state of the nation address, finance minister Enoch Godongwana’s upcoming national budget speech could hold the key to boosting business and investor confidence in the economy.
Read more »
Taxes, grants and load shedding: Daunting task for Godongwana with 2023 Budget | The CitizenGodongwana is expected to disappoint some people as he tries to appease markets, but the critical issue is the plan to tackle Eskom’s debt.
Read more »
2023 Budget: SMEs need fundamental, large-scale interventions | The CitizenLast year local SMEs were ‘cautiously optimistic’ about the prospects of economic recovery, but this has changed ahead of the 2023 budget. 💵 budget
Read more »
PODCAST | What could lie ahead for SA in the 2023 budgetEvan Pickworth interviews Charles de Wet, tax executive at ENSafrica, about what may be in store for long-suffering taxpayers
Read more »