- Over the medium term, spending reductions amount to R50.3 billion, 54 per cent of which comes from compensation budget adjustments.
- • Provisional allocations of R75.3 billion are budgeted over the 2019 medium-term expenditure framework (MTEF) period, mainly for Eskom’s reconfiguration plan.
- • Since the 2018 Medium Term Budget Policy Statement the contingency reserve has been increased by R6 billion in 2019/20 to respond to requests for fiscal support from smaller stateowned companies. Additional support will be financed by selling non-core assets.
- • The consolidated budget deficit is projected to narrow from 4.5 per cent of GDP in 2019/20 to 4 per cent in 2021/22. • Gross debt is expected to stabilise at 60.2 per cent of GDP in 2023/24.
- • Real growth in consolidated non-interest expenditure will average 2 per cent over the next three years
To view more on the budget Speech refer to http://www.treasury.gov.za
Department of National Treasury