Treasury throws Eskom a debt lifeline
23 February 2023
The Minister of Finance walked a tightrope in providing financial assistance to Eskom, supporting households and increasing investment spending.
15 min read
Wednesday, 22 February 2023
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The Minister of Finance Enoch Godongwana walked a tightrope in providing financial assistance to Eskom, supporting households and increasing investment spending. There was very little on economic reforms, emphasising the urgency for a shift in gears from blueprint policy documents to implementation.
Read on for insights from Investec experts who unpack what the Budget means for your finances.
The National Budget Speech will be delivered on 22 February 2023 in the Good Hope Chamber, Parliament, by Minister of Finance Enoch Godongwane.
South Africa’s budget deficit totals some R288.9 billion in 2023. It is projected to narrow from 4.1% of GDP in 2023/24 to 3.2% in 2025/26. Gross debt is projected to stabilise at 71.4 per cent of GDP this year.
South Africa’s budget expenditure for 2022 was R2.2 trillion, with main budget revenue of R1.88 trillion. R1.9 trillion was allocated to social services such as education and training, public health, and community and social development.