SA's budget gap narrows

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PravinGordTwo.jpg

Independent Newspapers

Pravin Gordhan, Minister of Finance. Photo: Matthew Jordaan.

Johannesburg - South Africa collected more than 776 billion rand revenue in the first 11 months of the 2013/14 fiscal

year, against expenditure of 926 billion rand, Treasury data showed on Friday.

This translated to a budget shortfall of 150 billion rand, compared with a 160 billion rand gap over the same period in 2012/13.

Finance Minister Pravin Gordhan last month forecast a lower budget deficit of 4 percent of GDP for the 2013/14 fiscal year ending March 31, compared with the 4.2 percent shortfall predicted in October last year.

REVENUE February Year to date Pct of Budget estimate/

Fiscal year R'bln R'bln Audited outcome

2013/14 92.353 773.439 88.8%

2012/13 82.183 694.118 88.1%

EXPENDITURE February Year to date Pct of Budget estimate/

Fiscal year R'bln R'bln Audited outcome

2013/14 77.816 926.335 88.3%

2012/13 72.537 853.629 88.6% - Reuters


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