Highlights from the Appropriation Bill for 2023

Abstract

The Appropriation Bill for 2023 was presented to Parliament on the 18th of October, ahead of the budget speech in November.

The Appropriation Bill shows that there is a 26% increase in expenditure planned for 2023, while a 68% revenue increase (i.e., 3 ppt increase in revenue) is required to meet the primary deficit target of 0.7% for 2023.

Interest payments remain more than one-third of total spending in 2023, reflecting an increase of 55% from 2022.