The State of South Africa’s Public Finances before the 2016 Budget Speech

SOUTH AFRICA - Report 27 Jan 2016 by Iraj Abedian

Heading towards the 2016 budget speech to be delivered on February 24, the state of South Africa’s national government finances has come under scrutiny because of the myriad of challenges that are currently faced by the country including, but definitely not limited to, low economic growth. On January 19, the IMF released an update of its World Economic Outlook and it revealed that the organization had downgraded the country’s projected growth to 1.3% for 2015, and a dismal 0.7% for 2016. Among other things, this means that the base for revenue collection is shrinking. To illustrate this, Graph 1 shows the major sources of government tax revenue and their correlation with economic growth.

Now read on...

Register to sample a report

Register
Sign-in
Forgot your password?
Copyright 2024 GlobalSource Partners. All rights reserved. This report is prepared for GlobalSource Partners’ clients and may not be redistributed, reproduced, stored in a retrieval system, retransmitted or disclosed, in whole or in part, or in any form or manner, without the express written consent of GlobalSource Partners. This report is distributed simultaneously to our website and other portals used by GlobalSource Partners. The information herein was obtained from various sources and is believed to be reliable but GlobalSource Partners does not warrant its completeness or accuracy. Neither GlobalSource Partners nor any Country Analyst, officer or employee accepts any liability whatsoever for any direct, indirect or consequential damages or losses rising from any use of this report or its contents.