CURRENTLY ON AIR ⇒
  • The Conversation
    Friday, 11:05 am - 11:15 am
    [ - ]

feedback@radioislam.org.za

logo


((( Listen Live )))))
Radio Islam Logo


The ASRI Report

Sameera Casmod | sameerac@radioislam.co.za
03 November 2023 | 11:31 CAT
1-min read

South Africa’s recent medium-term budget policy statement has revealed the fiscal challenges facing the nation, highlighting the delicate balancing act between addressing significant social backlogs and managing the country’s burgeoning debt. In this week’s ASRI Report, Rashaad Amra discussed the mini-budget speech.

The medium-term budget policy statement, distinct from the annual budget typically presented in February, offers a comprehensive three-year outlook, signalling the government’s policy intentions and priorities. While the statement provides a crucial roadmap for long-term planning, the daunting task of balancing fiscal stability, debt management, and growing social demands remains a primary concern for policymakers.

“We can’t continuously fund everything through borrowing when our revenue isn’t keeping up. And so, balancing revenue with expenditure, with growing social needs, with what is called fiscal sustainability,” Amra noted, highlighting the pressing need for fiscal sustainability amidst growing social demands and the challenges associated with borrowing to bridge revenue shortfalls.

South Africa’s persistent borrowing, coupled with mounting debt obligations and the resulting hefty interest payments, has necessitated stringent measures to maintain fiscal sustainability. However, the increasing revenue shortfalls, expected to reach R58 billion this fiscal year, have compelled the government to augment its borrowing, leading to challenging decisions on expenditure cuts across various sectors, notably impacting healthcare and infrastructure development.

Moreover, the postponement of detailed tax measures until next February has prompted discussions about the delicate balance between raising additional revenue and avoiding potential constraints on economic growth. With the government considering targeted spending cuts, the challenge lies in ensuring essential services are not compromised. However, the complexity of these decisions, compounded by a growing demand for resources and competing priorities, presents a formidable task for policymakers.

Listen to the ASRI Report on Sabaahul Muslim with Moulana Sulaimaan Ravat.

ADVERTISE HERE

Prime Spot!!!

Contact:
advertisingadmin@radioislam.co.za 

Related Articles

Late Applications for Gauteng Schools Closed Today

Late Applications for Gauteng Schools Closed Today

Neelam Rahim | neelam@radioislam.co.za 3-minute read 30 January 2025 | 11:19 CAT With the deadline for late applications now closed, Gauteng parents seeking Grade One and Grade Eight placements for their children had until today to secure a spot. The online system,...

read more
Duduzile Zuma-Sambudla faces charges over July 2021 unrest

Duduzile Zuma-Sambudla faces charges over July 2021 unrest

Sameera Casmod | sameerac@radioislam.co.za 30 January 2025 | 10:15 CAT 2-minute read Former President Jacob Zuma’s daughter, Duduzile Zuma-Sambudla, is set to appear in the Durban Magistrate’s Court today on charges of inciting terrorism related to the July 2021...

read more
The Media Lens

The Media Lens

Sameera Casmod | sameerac@radioislam.co.za 29 January 2025 | 13:14 CAT 4-minute read Ali Abunimah’s arrest highlights crackdown on free  speech Ali Abunimah’s arrest by Swiss police on Saturday before his speech in Zurich has sparked international outrage for being a...

read more

Subscribe to our Newsletter

0 Comments