Exports to africa grew by 19 per cent in 20 and 11 per cent in 2014. Finance minister pravin gordhan will present a plan that will focus on state expenditure, taxes, welfar, infrastructure and further managing budget deficit when he delivers his 201415 budget speech today in. South africa 2018 budget speech in full allnet africa. Rsm south africa ceo, brian eaton, covers the highlights of the 2018 national budget speech. Waldo swiegersbloomberg budget in a nutshell for 201718. Economic activity is projected to pick up to 3 percent in 2014, but there are still challenges.
South africas economy has continued to grow, but more slowly than projected a year ago. South africas economic prospects are intertwined with global economic developments. Honourable members, the 2017 budget has been prepared with a view to strengthening both our economic growth and the transformation of our society. South africa took to city streets and twitter to protest various matters hours prior to finance minister pravin gordhans 2017 budget speech. In the final days of the run up to minister of finance pravin gordhans. Innovative and competitive south african firms will be able to increase their exports as the world economy recovers. Performance of the south african economy, 201415 to 202021 % source.
Balancing todays demands with tomorrows opportunities. Gordhan mentioned improvements to south africa s health sector are. As this budget speech has received an unusual amount of interest, we have set out the tax proposals in more detail than usual, although this summary is not. It is time to move south africa forward to the next stage of our historic journey to more rapid growth, jobs and development time to leave behind poverty, joblessness and inequality. Feb 26, 2014 here are the highlights and a brief summary of the 20142015 south african national budget speech, delivered by minister of finance, pravin gordhan to parliament today in cape town. On october 9, 2018, i stood before judge babalwa mantame and took an oath of office. The budget for 201819 was presented to parliament by the minister of finance on 21 february 2018. For details with respect to indirect taxation, see south africa1, news 22 february 2018. Pravin gordhans 2010 south africa budget speech wonkie.
Supporting efficient and sustainable public financial management is fundamental to the promotion of economic development, good governance, social progress and a rising standard of living for all south africans. For details with respect to indirect taxation, see south africa 1, news 22 february 2018. He indicated that south africa needs to raise an additional r28billion in tax revenues and reduce spending. Budget deficit of four percent of gdp expected for 2014, narrowing to 2. Finance minister pravin gordhan will present a plan that will focus on state expenditure, taxes, welfar, infrastructure and further managing budget deficit when he delivers his 2014 15 budget speech today in parliament. National budget speech 2014 delivered by gordhan highlights. The peoples alternative budget speech 2014 the mail.
All of theactionfiscal targets presented today provide for budget balance for the next five fiscal years, that is, until 20202021. Allafrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. The imf has revised its forecast gdp growth for 2016 downwards by nearly half to 0. Sin taxes, vat and the 20182019 budget 2017 2018 budget. Financing soes where required without increasing the budget deficit. The minister of finance, malusi gigaba, will table the 2018 national budget in parliament on 21 february 2018. Budget speech 2018 thapelo lekabe and citizen team finance minister malusi gigaba delivering the budget speech, 21 february 2018, cape town. Honourable speaker mister president cabinet colleagues and deputy ministers governor of the reserve bank mecs of finance fellow south africans ndi masiari sanibonani molweni goeie middag thobela dumelang avhusheni as i begin, let me first table before this august house.
South africa s economic outlook south africa s economy has continued to grow, but at a slower rate than projected at the time of the 2012 budget. Highlights of the south african national budget speech 201415 delivered by minister of finance, pravin gordhan to parliament on february 26th, cape town. The budget for transport, energy and communication services increases from r84 billion in 2012 to r98 billion in 201415, rising by an annual average of 8. Highlights of south africas national budget speech 2017. The 2018 budget presents proposals to rebuild confidence and put the public finances on a more sustainable path. Budget framework budget deficit of four percent of gdp expected for 2014, narrowing to 2. As always, government will be spending more on grants and interventions to help the poor, but the key message of todays speech is that there is a new focus on f iscal responsibility and sustainability. Tax revenue as a % of gdp, 200607201011 14 figure 3. This projected growth is predicated on moderate recovery in emerging markets and developing economies, which are projected to expand by about 5% in 2014, against 4. The latest news, opinions, pictures, reactions and videos of budget 2017. I have a simple message, finance minister pravin gordhan said in the introduction to his 2016 budget speech. South africas finance minister pravin gordhan tabling the countrys budget for 20. Medium term budget policy statement by the minister of finance october 2017.
To achieve the vision of the constitution, south africa needs transformation that opens a path to inclusive economic growth and. It was with keen anticipation that the budget was closely watched to learn of treasurys proposals that. In the build up to the latest budget, it was clearly advertised that tax proposals were to be introduced to fund significant revenue collections intended to fund budget deficits. Then use our free online 20202021 income tax calculator to calculate your new tax rates based on your monthly salary. The south african national budget speech 2020 how will this years budget speech affect you. You further said the national development plan 20 budget speech. The main budget noninterest expenditure ceiling has been reduced by r25 billion over the next two years. In this 201516 budget, a consolidated budget deficit of 3. Read more use our 2020 tax calculator to work out how much tax you will be paying and find out more about our taxefficient solutions to make the most of the tax benefit. What will the 2020 budget speech mean for you and your business.
The speech is shorter and tighter than gigabas previous budget speeches, as if to underscore the gravity of how much things have changed. Gcis read the full speech, watch the video, and download key documents. The honourable minister of finance read the 2016 south african budget speech on 24 february 2016. Download our 201819 summary tax guide here rsm ceo, brian eaton, covers the highlights of the 2018 budget speech. Implementing the same budget yearonyear will undoubtedly bring greater social.
Budget lockups have been arranged for journalists and economists in cape town and pretoria, allowing access to the budget documents prior to the ministers address in parliament. Budget speech 8 20162017 maintaining sound public finances we must keep our public finances sound so that we have a strong foundation for future government. South african national budget speech 2016 predictions. Expenditure on social services as a percentage of gdp 17. Finance minister pravin gordhan indicated that we expect south africas recovery to achieve a 3.
Sadc electoral observation mission to the republic of mauritius, statement by the hon. Feb 26, 2014 finance minister pravin gordhans budget speech is his fifth and last budget speech under the current jacob zuma administration. Here are the highlights and a brief summary of the 20142015 south african national budget speech, delivered by minister of finance, pravin gordhan to parliament today in cape town budget framework budget deficit of four percent of gdp expected for 2014, narrowing to 2. A devolution of public transport services to metropolitan municipalities will be phased in over the period ahead, allowing for better integrated public transport networks. Maite nkoanamashabane mp minister of international relations and cooperation of the republic of south africa and head of the sadc electoral observation mission to the 2014 national assembly elections in the republic of mauritius, delivered on 11 december 2014, moka. Tax pocket guide for 2014 for the 2015 year of assessment 1 march 2014 to 28. Feb 22, 2017 honourable members, the 2017 budget has been prepared with a view to strengthening both our economic growth and the transformation of our society. Budget documents will be available for purchase from 14. Finance minister pravin gordhans budget speech is his fifth and last budget speech under the current jacob zuma administration. Minister gordhan had a tough message for south africans in wednesdays budget speech in the national assembly, with the introduction of a new tax bracket for the very rich, state debt creeping up and almost all economic indicators and fiscal numbers weaker than in last years budget. Highlights of the south african national budget speech 2014 15 delivered by minister of finance, pravin gordhan to parliament on february 26th, cape town. South africa has an opportunity to build on the positive developments that have emerged in recent months. Debt stock as percentage of gdp to stabilise at 44.
I wish to say a few words to the privileged in south africa. Republic of south africa national treasury national treasury. Executive summary of sas 2017 national budget speech. Budget speech by the minister of finance 26 february 2020. We are strong enough, resilient enough and creative enough to manage and overcome our economic challenges. Feb 20, 2018 download the 2018 2019 c2m in your interest booklet coming soon read article by carel steenkamp ca sa ra. Gordhan indicated that we expect south africas recovery to achieve a 3. Download our 201819 summary tax guide here rsm ceo, brian eaton, covers the. A reduction in the main budget expenditure ceiling of about r25 billion over the next two years, compared with the 2014 budget baseline. Details of the budget with respect to direct taxation, which, unless stated otherwise, will apply from 1 march 2018, are summarized below. Feb 26, 2014 the peoples alternative budget speech 2014.
Mister president, you outlined our programme of action in the state of the nation address two weeks ago. And it is for the reason that a great deal of what traditionally makes its way into the oral presentation, is now confined to the annex to the speech. Feb 22, 2018 at the time of the october medium term budget policy statement government presented an unsustainable debt outlook. He indicated that south africa needs to raise an additional r28billion in tax revenues and reduce spending by a total of r26billion over the next two years. It is no wonder that the man who turned the south african revenue services sars around commanded significantly more praise than the lacklustre efforts of president jacob zuma in his state of the nation address a week ago mr gordhans focus is clearly on establishing credible monetary policy. The budget for transport, energy and communication services increases from r84 billion in 2012 to r98 billion in 2014 15, rising by an annual average of 8. The finance minister, tito mboweni, delivered the national budget speech on 26 february, announcing the governments planned expenditure for 2020. Read more use our 2020 tax calculator to work out how much tax you will be paying and find out more about our taxefficient solutions to. Government spending excluding interest repayments will rise from 201516s r1. Latest south african budget news and insights business report. Feb 24, 2016 i have a simple message, finance minister pravin gordhan said in the introduction to his 2016 budget speech. The national treasury is responsible for managing south africa s national government finances. Budget 201415 42 budget 201516 33 budget 201617 42 budget 201718.
1045 1208 1594 1277 804 1395 312 1054 833 742 1377 605 965 987 357 1166 1057 180 1585 1309 764 998 1197 27 384 105 584 455 589 329 1463 542 556 1238 1046 1352 1266 841 805 626