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Govt wants to spend R953bn

Cape Town - The revised consolidated budget for 2013/14 tabled in parliament on Wednesday provides for total spending of R953bn.

It will rise to R1.44trn in 2016/17.

The proposed budget framework allows for average nominal growth in main budget spending of 8.0% per year over the next three years.

It includes a contingency reserve of R3bn, R6bn and R18bn for 2014/15, 2015/16 and 2016/17 respectively for unforeseen and unavoidable requirements.

The contingency reserve has been reduced by R7.5bn over the next two years to respond to spending pressures.
 
Debt service costs rise at an average annual rate of 10.4%, from R100.5bn in the current financial year to R135.4bn in 2016/17.

Over the next three years provincial budgets grow from R415.8bn to R507.8bn.

Local government will receive R84.8bn this financial year, expected to increase to R106.7bn by 2016/17.

National departments have been allocated R585bn for the current financial year, of which R278.8bn or 47.7% was spent in the first six months.
 
The mini budget states that distribution of resources is in line with the national development plan (NDP).

Health, education and social assistance will claim the largest share of government spending over the medium term, while allocations to infrastructure, jobs, local government and community development will grow strongly.

Spending pressures amounting tot R21.6bn over the next three years are accommodated through reprioritisation of R8.1bn within departmental allocations and a drawdown of R13.5bn on the contingency reserve.
 
National and provincial public sector salaries are linked to inflation, forecast to be higher than previously projected this year and over the next two years.

Over the next three years the cost of inflation adjustments is R12.2bn, and R5.2bn is also required to upgrade the salary levels of clerks in the public service.

- Fin24

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