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NAMIBIA UPDATES ENTRY REQUIREMENTS FOR INTERNATIONAL Namibia was one of the first countries on the continent to open its borders last year. According to independently owned regional airlineAirlink,
CHESLIN KOLBE'S INCREDIBLE 60M CHASE, TACKLE AND STEAL Cheslin Kolbe’s incredible 60m chase, tackle and steal – WATCH Cheslin Kolbe chased down Clermont wing Peter Betham from a standingstart to
MUST ONE HAVE AN SMS TO BE VACCINATED? HEALTH DEPARTMENT Right Mzansiwe know there has been some confusion about whether one needs an appointment SMS confirmation in order to get vaccinated.thoseover 60
PITSO MOSIMANE: DETAILS OF R72 MILLION SUNDOWNS CONTRACT Pitso Mosimane was earning R1.5 million a month according to a report revealed by Sunday World. The contract would last for four years meaning Mosimane would have DAILY LOTTO RESULTS FOR SATURDAY, 29 MAY 2021 Daily Lotto results for Saturday, 29 May 2021 Today’s DAILY LOTTO jackpot is estimated at R420,000! The Daily Lotto is a lottery game that guarantees a jackpot for every draw. MAMELODI SUNDOWNS SUE PITSO MOSIMANE'S WIFE FOR R8 MILLION Mamelodi Sundowns have reportedly filed an R8 million lawsuit against former coach Pitso Mosimane‘s wife Moira Tlhagale. According to a report by Sunday World, the Brazilians are requesting JUST IN: 'A DECISION HAS BEEN TAKEN TO SCRAP E-TOLLS Just in: ‘A decision has been taken to SCRAP e-tolls’ – Gauteng MEC. Gauteng’s Transport MEC Jacob Mamabolo has taken many by surprise this morning, after he announced live on-air that e MASSMART: SACCAWU STRIKE CONTINUES AFTER LATEST RETRENCHMENTS Massmart: SACCAWU strike continues after latest retrenchments The SACCAWU strike against Massmart continues after 88 workers were retrenched, leaving them unhappy with the reorganisation process. SASSA PAYMENT DATES FOR JUNE 2021: GRANTS TO BE 'SPLIT' BY SASSA payment dates for June 2021: Grants to be ‘split’ by weekend The official SASSA grant payment dates for June 2021 were released on Tuesday - but some recipients now face a SOAPIE TEASERS: WHAT’S HAPPENING IN 7DE LAAN IN JUNE 2021? Wednesday 30 June 2021Episode 5100. Lana has a fascinating model in a photoshoot. Aggie is thankful for the Hillsider’s support. 7de Laanair
NAMIBIA UPDATES ENTRY REQUIREMENTS FOR INTERNATIONAL Namibia was one of the first countries on the continent to open its borders last year. According to independently owned regional airlineAirlink,
CHESLIN KOLBE'S INCREDIBLE 60M CHASE, TACKLE AND STEAL Cheslin Kolbe’s incredible 60m chase, tackle and steal – WATCH Cheslin Kolbe chased down Clermont wing Peter Betham from a standingstart to
MUST ONE HAVE AN SMS TO BE VACCINATED? HEALTH DEPARTMENT Right Mzansiwe know there has been some confusion about whether one needs an appointment SMS confirmation in order to get vaccinated.thoseover 60
PITSO MOSIMANE: DETAILS OF R72 MILLION SUNDOWNS CONTRACT Pitso Mosimane was earning R1.5 million a month according to a report revealed by Sunday World. The contract would last for four years meaning Mosimane would have DAILY LOTTO RESULTS FOR SATURDAY, 29 MAY 2021 Daily Lotto results for Saturday, 29 May 2021 Today’s DAILY LOTTO jackpot is estimated at R420,000! The Daily Lotto is a lottery game that guarantees a jackpot for every draw. MAMELODI SUNDOWNS SUE PITSO MOSIMANE'S WIFE FOR R8 MILLION Mamelodi Sundowns have reportedly filed an R8 million lawsuit against former coach Pitso Mosimane‘s wife Moira Tlhagale. According to a report by Sunday World, the Brazilians are requesting JUST IN: 'A DECISION HAS BEEN TAKEN TO SCRAP E-TOLLS Just in: ‘A decision has been taken to SCRAP e-tolls’ – Gauteng MEC. Gauteng’s Transport MEC Jacob Mamabolo has taken many by surprise this morning, after he announced live on-air that e MASSMART: SACCAWU STRIKE CONTINUES AFTER LATEST RETRENCHMENTS Massmart: SACCAWU strike continues after latest retrenchments The SACCAWU strike against Massmart continues after 88 workers were retrenched, leaving them unhappy with the reorganisation process. NICD: SA HAS ENTERED THE THIRD WAVE OF COVID-19 CASES 1 day ago · NICD: SA has entered the THIRD WAVE of COVID-19 cases It comes as South Africa recorded over 17 000 new COVID-19 cases over just two days – while hospitalisations are also on the rise FAKE NEWS: NETCARE UMHLANGA HOSPITAL IS NOT A COVID-19 HOTSPOT 22 hours ago · Fake News: Netcare Umhlanga Hospital is NOT a COVID-19 hotspot Netcare Umhlanga Hospital has described social media claims that it is a COVID VACCINE ROLLOUT: NAPTOSA RESOLUTE THAT TEACHERS WILL 20 hours ago · Vaccine rollout: Naptosa resolute that teachers will receive their jabs About 500 000 teachers in South Africa are to receive their J&J vaccines by TIK TOK TRAGEDY: CHILD KILLED AFTER MIMICKING VIDEO EXPERIMENT 18 hours ago · Tik Tok tragedy: Child killed after mimicking video experiment A child, who carried out an experiment he saw in a Tik Tok video, sadly lost his life after he sustained severe burns. WATCH: TAXI MAKES RECKLESS TURN BEFORE FATAL MELKBOSSTRAND 12 hours ago · Traffic footage of the fatal accident on the R27 near Melkbosstrand, Cape Town, on Tuesday, 8 June, shows a taxi making a reckless right turn before the collision. ASYLUM SEEKERS HAS UNTIL JUNE TO RENEW EXPIRED VISAS ONLINE Refugees who needs to renew their visas online has until 30 June to apply. On 15 April, Home Affairs Minister Dr Aaron Motsoaledi extendedthe validity of
CHILD PROTECTION WEEK: CREATING A SAFE SPACE FOR CHILDREN Child Protection Week: Creating a safe space for children in SA Child Protection Week kicked off on 30 May and will run until 6 June underthe theme 'Let
CANADA’S START-UP VISA PROGRAM ATTRACTS MORE SOUTH AFRICAN 21 hours ago · Innovators from South Africa have over a 90% success rate when applying to Canada’s Start-Up Visa program. Since this permanent resident program was PORTUGAL EXTENDS TRAVEL BAN ON SOUTH AFRICAN NATIONALS Portugal extends travel ban on South African nationals While several countries in Europe are beginning to lift COVID-19 restrictions ahead of the peak summer tourism, Portugal has extended its THE CROWN ACT: HAIR-BASED DISCRIMINATION NOW ILLEGAL IN 21 hours ago · The Crown Act: Hair-based discrimination now illegal in 12th US state Nevada is the latest state to pass the 'The Crown Act', a law that makes hair-based discrimination illegal.* Write for us
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BUDGET SPEECH 2020 FIGURES AT A GLANCE A BREAKDOWN OF THE BUDGET SPEECH 2020 IN BITE-SIZED CHUNKS.by Cheryl Kahla
2020-02-26 20:38
in Finance
Image via Adobe StockAddThis Sharing
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SHARES Share to FlipboardFlipboardShare to FacebookFacebookShare to TwitterTwitterShare to WhatsAppWhatsAppShare to LinkedInLinkedInShare to EmailEmailShare to PocketPocket The Budget Speech is behind us. No blood spilt and no points of order to write home about. Some even went so far as to describe the speech as ‘bleak’. Spoiler alert, it wasn’t Julius Malema. To be honest, we expected a bit more from this year’s budget’s speech, something a bit more substantial, but it is what it is. If you missed the delivery, we’ve collected all the important figures inone place.
BUDGET SPEECH 2020 FRAMEWORK * Low growth led to an R63.3 billion downward revision to estimates of tax revenue in 2019/20 relative to the 2019 budget. Debt is not projected to stabilise over the medium term, and debt-service costs now absorb 15.2% of main budget revenue. * The 2020 Budget proposes total reduction of R261 billion over the next three years, which includes R160.2 billion reduction to the wage bill of national and provincial departments and national publicentities.
* Re-allocations and addition total R111.1 billion over the medium term, of which R60 billion is set aside for Eskom and South African Airways (SAA) * These measures narrow the consolidated deficit from 6.8% of GDP in 2020/21 to 5.7% in 2022/23, with debt rising to 71.6 of GDP over thesame period.
* Along with faster economic growth, fiscal sustainability will require targeted reduction of specific programmes, and firm decisions to rein in extra-budgetary pressures, including reform of state-owned companies and the Road Accident Fund (RAF).ALSOREAD
HERE’S WHAT ECONOMIC ANALYSTS THINK OF MBOWENI’S 2020 BUDGETSPEECH
‘BRPS SLOW TO DEVELOP SAA RESCUE PLAN DUE TO BILLIONS INBAILOUTS’ – DA
BUDGET SPEECH HIGHLIGHTS SCALE OF FISCAL DETERIORATION, SAYS FITCH BUDGET 2020: GOOD NEWS ON TRANSFER DUTY A BOOST FOR PROPERTY MARKET READ MORE HERE: BUDGET SPEECH BAILOUTS: MBOWENI THROWS SAA A R16.4BILLION BONE
,
and also: TITO MBOWENI BACKS ESKOM ALTERNATIVE.
HEALTH, EDUCATION, SOCIAL DEVELOPMENT AND SECURITY Finance Minister Tito Mboweni also highlighted that education and health will be treated as a priority. To that effect, government will increase spending on schools and health care. Mboweni said: > “The largest spending areas will be learning and culture, which > receives R396 billion, followed by health with R230 billion, and > social development with R310 billion.” About R212 billion was set aside for economic development, which includes industrialisation and exports, agriculture and rural development, job creation and labour affairs, and science andtechnology.
Furthermore, R217 billion will go towards peace and security: Police services will be granted R106 billion, while the remaining funds will be allocated between defence and state security, as well as law courts, prison and home affairs. READ MORE HERE: BUDGET SPEECH 2020: INCREASED SPENDING ON EDUCATIONAND HEALTH
DEBT-SERVICE COSTS AND COMMUNITY DEVELOPMENT Concerningly, debt-service costs remain one of the largest cost items in the budget with the government allocating R227 billion to servicingdebt.
In context, the government will be spending virtually the same amount on servicing debts as it will on health care spending, and will spend R10 billion less on peace and security than it will on debt servicecosts.
Learning and Culture, Health and Social development will make up just under 48% of the budgeted expenditure for the new year with Community development, Peace and Security and Economic development, making upnearly 33%.
Debt service costs will represent nearly 12% of the total budgeted expenditure for 2020/21. _The complete infographic can be viewed here._
ALSO READ – BUDGET SPEECH 2020: THE GOOD, THE BAD AND THE UGLY IN 12QUOTES
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