SA budget deficit seen wider than Treasury forecasts | Fin24
  • SAA

    Pravin Gordhan says while govt is committed to saving the airline, there's no room for more bailouts.

  • Andre de Ruyter

    Bondholders aren’t convinced that Eskom’s new chief executive officer is the best choice.

  • Illicit Tobacco Trade

    The SA Revenue Service says it is going to court to recover R200m in taxes in a decade-old case


SA budget deficit seen wider than Treasury forecasts

May 01 2019 10:33
Prinesha Naidoo
Finance Minister Tito Mboweni delivers his maiden

Finance Minister Tito Mboweni delivers his maiden Budget to Parliament in Cape Town on February 20, 2019 (GCIS)

Related Articles

Higher refunds at SARS result in R14.6bn deficit

Levies to add to expected fuel price hike in April - AA

Treasury: SARS is paying out more VAT refunds

Treasury: We have not introduced austerity measures


South Africa’s budget deficit for the most recent fiscal year could be worse than the government had forecast.

The total shortfall for the year that ended on March 31 was R232.9bn, the Pretoria-based National Treasury said on Tuesday in its monthly budget update.

That exceeds the government’s February projections of a R224.5bngap for the main budget and R210.2bn for the consolidated budget.

The consolidated figure includes the main budget framework as well as self-financed spending by provinces, social security funds and public entities. The tax agency said on April 1 that collections didn’t meet their target.

The larger gap could point to a bigger consolidated fiscal shortfall than the 4.2% of gross domestic product the Treasury projected for 2018-19.

This may be compounded by economic growth coming in slower than what the government estimated as power cuts weigh on output.

treasury  |  budget  |  budget deficit


Company Snapshot

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote