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Budget 2021/22 preview: Smaller deficits than expected in October


Highlights

  • Revenue for Budget 2020/21 can be about R216 billion less than national treasury’s estimate in February 2020.

  • However, it could be R100 billion more compared to the Medium-Term Budget Policy Statement (MTBPS).

  • This revenue overrun is broad based and points to a strong economic recovery during the second half of 2020.

  • The budget deficit for 2020/21 will likely be much lower than the 15,7% of gross domestic product (GDP) announced in the MTBPS.

  • The budget for 2021/22 and subsequent years will focus on the priorities set out by President Cyril Ramaphosa in the State of the Nation Address (Sona).

  • Personal Income Tax rates are expected to remain unchanged in 2021/22.

To download the Budget 2021/22 preview: Smaller deficits than expected in October in PDF, click below...

Budget 2021-22 preview Smaller deficits
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