Main highlights of the Mid-Term Budget:

Atul Gupta with President Jacob Zuma, Hassan Howa and Malusi Gigaba. BizNews
  • The GDP growth projection for the year has been cut from 1.3% to 0.7 percent
  • The Treasury projects a revenue shortfall of R50.8 billion in 2017/18.
  • Government is selling Telkom shares to raise cash
  • The consolidated budget deficit for 2017/18 is expected to be 4.3 percent of GDP, compared with a 2017 Budget estimate of 3.1 percent.
  • There is “little space” for tax increases, but some tax increases and spending cuts are planned for the February Budget
  • Government is looking at providing fee-free higher education and training to poor and middle-income students.
  • A strategic equity partner is being sought for SAA
  • A new bill on Public Procurement is being prepared
  • A new board is being installed at Eskom before the end of November this year.
  • A long-delayed Carbon Tax Bill is being sent to parliament

 

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