PREVIEW: SA on track for a much improved budget deficit
Treasury data shows government tax revenue exceeded February’s budget outlook by R162bn
03 October 2022 - 10:53
UPDATED 03 October 2022 - 23:14
The medium-term budget policy statement due to be presented later in October is likely to show a much-improved main budget deficit for the 2022/2023 fiscal year compared with the national budget presented in February.
The Treasury’s monthly budget data shows that government tax revenue exceeded the February budget outlook by R162bn, or more than 2% of GDP — or when taking into account the usual seasonality in monthly tax revenue, the overrun could be closer to R110bn, about 1.5% of GDP...
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