Mini Budget 2017: Here are 5 worrying graphs about SA’s state of finances

PRETORIA — South Africa’s finances are coming under strain when looking at the 2017 Medium Term Budget Policy Statement (MTBPS). The Mini Budget indicates how South Africa’s GDP per capita income is falling while the country’s debt-to-GDP ratio has rocketed upwards and is now expected to approach the 60% mark in the medium term. Meanwhile, tax revenues continue to fall with government set to miss several targets in years to come. Just this year alone, SARS failed to collected an additional R50.8bn needed to meet this year’s target. But the projected shortfall is about to get worse with Treasury stating that “gross tax revenue for the 2017/18 – 2019/20 period is projected to fall short of the 2017 Budget estimates by R209 billion”. Here are five graphs that illustrate South Africa’s worrying state of affairs. – Gareth van Zyl

Debt-service costs

South Africa’s per capita income

Growth in gross tax revenue and nominal GDP

Main budget revenue and non-interest spending

Gross debt-to-GDP outlook without additional fiscal measures

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