BUDGET IN A NUTSHELL: Sanral garners biggest share of government’s bailouts
The SA National Roads Agency will get R23.7bn to pay off government-guaranteed debt conditional on its finding a solution to the e-tolls stalemate
The government has taken advantage of a strong improvement in its fiscal position to extend R33bn in bailouts to state-owned enterprises (SOEs), with SA National Roads Agency Ltd (Sanral) the biggest beneficiary.
The bailouts announced in the medium-term budget policy statement (MTBPS), tabled in parliament on Wednesday by finance minister Enoch Godongwana, are made possible by higher-than-expected tax collections of R83.5bn, which will enable the government to reduce its gross borrowing requirement and the budget deficit and to support spending priorities. Including higher taxes, the government’s overall revenue was boosted by a total of R106.4bn due to an extra R7.4bn in mineral and petroleum royalties, as well as the proceeds from the government’s auction of broadband spectrum earlier in 2022...
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