RSA Budget 2022 Highlights

RSA Budget 2022 Highlights

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Herewith the RSA Budget 2022 Highlights in PDF form as provided by the National Treasury for your convenience. The main points are:

  • The Government expects to achieve a primary surplus – where revenue exceeds non-interest expenditure – by 2023/24. In 2024/25, the main budget non-interest expenditure will grow slightly above CPI inflation.
  • The consolidated budget deficit is projected to narrow from 6 percent of GDP in 2022/23 to 4.2 percent of GDP in 2024/25.
  • Gross loan debt will stabilise at 75.1 percent of GDP in 2024/25.
  • Debt service costs consume an increasing share of GDP and revenue. They are expected to average R333.4 billion a year.
  • Tax revenue strengthened significantly in recent months and is expected to reach R1.55 trillion for 2021/22, well above projections.