The medium-term budget policy (MTBP) framework was presented to Parliament in November this year by Finance Minister Enoch Godongwana. The MTBP is usually a non-event as it just reviews government performance and explains why targets set in the main budget were not reached.
This year’s speech by Godongwana was different. In a presentation to Parliament, former chief of the parliamentary budget office Michael Sachs emphasised that this year the framework was not a review of the budget, but actually proposed large changes to the budget.
GOVERNMENT DEBT
Government debt is out of control. According to Godongwana, government debt would grow to R6 000 billion in 2025/26 to equal 77% of the GDP, higher than the 73% predicted in the February budget. Government debt has grown by 47% since 2008. Government income depends on economic growth. Individuals and businesses need to increase their economic activity so that they can increase their income and their payment to government in terms of various taxes. The minister said economic activity remained severely limited by continued shortages of electricity, deteriorating freight rail performance and slow port operations. Since the 2023 budget, corporate tax income decreased as economic activity slowed down.
Denne historien er fra December 08, 2023-utgaven av Farmer's Weekly.
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Denne historien er fra December 08, 2023-utgaven av Farmer's Weekly.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
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Uncertainty over Trump's stance on AGOA
It is of vital importance that that the African Growth and Opportunity Act (AGOA) be upheld following the recent US presidential election, in which Donald Trump emerged as the winner.
Plum pollen study reveals varietal differences in pollination effectiveness
A new study undertaken near George, Western Cape, explored pollination in plum varieties, showing key differences in pollen quality. Octavia Avesca Spandiel reports on the research findings.
Study: small cuts to beef production could eliminate years of emissions
In a paper published in early November, scientists reveal that pasturelands, in particular those that were once forests, hold great potential for mitigating the effects of climate change.
Harnessing wind for cleaner energy
At the Windaba Conference and Exhibition, held in October in Cape Town, Western Cape, Niveshen Govender, CEO of the South African Wind Energy Association, spoke to Glenneis Kriel about the state of wind energy in the country and the opportunities that farmers can exploit.
The Cape Grace: a Cape Town icon is reborn, and her new custodians shine
Brian Berkman has had the exceedingly good fortune of spending many nights at the Cape Grace Hotel over the years. He revisits it to find it as impressive as ever.
Cutting-edge tech aiding the agri sector
Toyota Material Handling's innovations conserve resources and reduce the environmental footprint of farming operations.
Use the correct growing medium for safe seedling production
Instead of buying expensive growing mediums for seedlings, farmers can make their own mixtures from local resources, such as manure, which are economical and produce excellent results
Optimising cherry production and quality
Growing cherries in a suboptimal climate requires manipulating trees and temperatures. But with a considerable market advantage, it is worth the effort. Lindi Botha visited ZZ2's Toscana farm, which for four weeks of the year takes prime position in the cherry market.
Biosecurity & nutrition: the foundation of pig farming success
JD Mostert, a consulting swine nutritionist at CS Vet, and Dr Stefan Steyn, a veterinarian at Afrivet, shared their expertise with Sinenhlanhla Mncwango, delving into why biosecurity and nutrition are critical pillars in establishing and maintaining a productive pig farm geared for long-term success.
The business of pig farming: practical steps for success
Running a pork farm requires knowledge and expertise. Mosele Lepheane, director of a small piggery in the Free State, spoke to Sinenhlanhla Mncwango about the structured approach needed to succeed, from drafting a business plan and managing cash flow to sourcing equipment and expanding market access.
