Herewith the RSA Budget 2022 Highlights in PDF form as provided by the National Treasury for your convenience. The main points are:
- Government expects to achieve a primary surplus – where revenue exceeds non-interest expenditure – by 2023/24. In 2024/25, main budget non-interest expenditure will grow slightly above CPI inflation.
- The consolidated budget deficit is projected to narrow from 6 per cent of GDP in 2022/23 to 4.2 per cent of GDP in 2024/25.
- Gross loan debt will stabilise at 75.1 per cent 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 R1.55trillion for 2021/22, well above projections.