This trajectory is much better than in the MTBPS
, which saw debt reaching 61% in FY20/21 and remaining on an upward trend.
also came up with cuts in government expenditure.
mid-term budgeting programe (MTBP
); the report should include respective recommendations
Shortly after the MTBPS
it emerged that the government plans to raise spending on tertiary education.
makes it possible for Parliament and the public to participate in the budget process ahead of the formulation of the national budget.
The macroeconomic environment has deteriorated significantly since the MTBPS
. Weaker growth will reduce revenues, higher inflation is increasing expenditure commitments, and the ratio of interest costs to GDP is projected to rise by 0.3pp by FY2018/19.
Agreed to today were the MTBPS
, its proposed fiscal framework for the next three years, the Special Appropriations Bill, the Adjustments Appropriations Bill and its Votes and Schedule.
recognized that whilst the economic cycle is the most likely and significant factor driving lower revenue-collection, other factors could also be at play, like weakening tax morality and challenges facing tax administration.
recognised that whilst the economic cycle is the most likely and significant factor driving lower revenue-collection, other factors could also be at play, like weakening tax morality and challenges facing tax administration.
In line with the 2016 Medium Term Budget Policy Statement (MTBPS
) announcement, National Treasury today publishes a second draft of the retirement funds default regulations, made in terms of section 36 of the Pension Funds Act (No.
The 2016 MTPBS, ladies and gentlemen, continues to be informed by weak economic growth in the South African economy, with forecast for growth being further revised downwards since 2015 Medium Term Budget Policy Statement (MTBPS
The Standing Committee on Appropriations and the Select Committee on Appropriations were briefed by the Financial Fiscal Commission (FFC) on the 2016 Medium Term Budget Policy Statement (MTBPS