Fiscal policy - Treasury

273 Fiscal policy In brief Fiscal policy is focused on containing the budget deficit and slowing the pace of debt accumulation to maintain spending programmes and promote confidence in the economy. The 2017 Budget tax proposals will raise R28 billion in additional revenue in 2017/18. Expenditure ceiling reductions amount to R10 billion in 2017/18 and R16 billion in 2018/19. Despite revenue underperformance, the main budget primary deficit a key measure of Fiscal sustainability will halve from 1 per cent of GDP in 2015/16 to per cent of GDP by the end of 2016/17. Net debt is forecast to stabilise at per cent of GDP in 2020/21. To address elevated Fiscal risks, government is managing the national and provincial wage bill, improving budget execution and stabilising the operations of financially troubled public entities.

Fiscal policy In brief • Fiscal policy is focused on containing the budget deficit and slowing the pace of debt accumulation to maintain spending programmes and promote confidence in the economy. • The 2017 Budget tax proposals will raise R28 billion in additional revenue in 2017/18.

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  Policy, Fiscal, Fiscal policy

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