South Africa
2013 budget, in numbers
A projected economic growth of 2.7%, personal income tax relief of R7 billion, an increase in grants and – bad news for most of us – a stiff hike in sin tax. Education, sport and culture are getting the lion’s share of the budget allocation. For the rest, here are the numbers in a nutshell. By RANJENI MUNUSAMY.
Budget 2013 at a glance
- Consolidated government expenditure: R1.15 trillion
- Economic growth projected at 2.7% in 2013
- Tax revenue for 2012/13: R16.3 billion below estimate
- Spending cuts of R10.4 billion over the next three years
- Budget deficit estimated to have risen to 5.2% of GDP
- Personal income tax relief of R7 billion
- Expenditure exceeds income by R190 billion
- Increase of 23 cents per litre in fuel levies in April
- Old age and disability grants increase in April from R1,200 to R1,260
- Foster care grant will increase from R770 to R800
- Child support grant will increase to R290 in April and R300 a month in October
- Increases in excise duties on alcohol and tobacco products of between 5.7 and 10%
Budget allocations:
- Education, sport and culture: R232.5 billion
- Social protection: R134.9 billion
- Health: R133.6 billion
- Local government, housing and community amenities: R132.1 billion
- Police services: R73.4 billion
- Law courts: R16.8 billion
- Defence: R44.8 billion
- Economic affairs: R136.6 billion
- Debt service costs: R99.7 billion
- Contingency reserve: R4 billion DM
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