SA’s budget deficit widens y/y in Nov

Compared with a shortfall for the same month a year earlier.

JOHANNESBURG – South Africa’s budget deficit widened to R21.79 billion in November, the eighth month of the 2015/16 financial year, compared with a R18.42 billion shortfall for the same month a year earlier, data from the Treasury showed on Wednesday.

The table below shows revenue and expenditure for November, compared with the same month last year. Revenue and expenditure for the fiscal year to date are also expressed as a percentage of the 2015/16 budget forecast and the audited outcome for 2014/15.

Revenue

November

Yr-to-date

% of budget estimate

Fiscal year

R’bln

R’bln

Audited outcome

2015/16

75.219

627.145

58.5

2014/15

72.848

564.692

58.9

Expenditure

November

Yr-to-date

% of budget estimate

Fiscal year

R’bln

R’bln

Audited outcome

2015/16

97.012

796.659

64.0

2014/15

91.269

729.448

64.5

COMMENTS   1

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The revenue increase of 11% so far in the tax year shows that actual inflation is higher than 11% and not the 5% official inflation rate!

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