NA passes 2022 Adjustments Appropriation Bill

06 Dec 2022

The national assembly has passed the 2022 Adjustments Appropriation Bill and the 2022 Special Appropriation Bill and sent them to the national council of provinces for concurrence.

The bills were tabled in parliament during the Medium-Term Budget Policy Statement in October 2022.

The Adjustments Appropriation Bill aims to effect adjustments to the appropriation of money from the National Revenue Fund for the requirements of the State in respect of the 2022/23 financial year; and to provide for matters incidental thereto.

Total in-year spending adjustments amount to R13 billion including a proposed additional allocation of R5.93 billion towards debt service costs; a proposed additional allocation of R48.5 million as unforeseeable and unavoidable expenditure through the Provincial Equitable Share for provincial social development departments for the continuation of care and protection of flood victims who were placed in shelters in KwaZulu-Natal; a proposed additional allocation of R306.26 million for State Owned Companies including R204.7 million to Denel and R101.56 million to the Land and Agricultural Development Bank; and a proposed additional allocation of R618.82 million for the skills levy and sector education and training authorities.

The Special Appropriation Bill aims to appropriate an additional amount of money for the requirements of the votes of Public Enterprises and Transport for the 2022/23 financial year; and to provide for matters connected therewith.

Additional funding allocations proposed in the 2022/23 fiscal year include R3.378 billion for Denel for the implementation of its turnaround plan; R23.736 billion for the South African National Roads Agency Limited for repayment of its maturing debt and debt related obligations; and R2.9 billion for Transnet for the acceleration of the repair and maintenance of locomotives.

Treasury earlier pointed out that payment will only be disbursed when the finance minister, Enoch Godongwana, is satisfied that the required conditions are met.

The select committee on appropriations will process the bills.

See also:

• Second Special Appropriation Act signed
• Power coupled with duty, the Intercape story
• Proposed new energy initiatives for South Africa – Is this the answer to loathsome loadshedding?
• Groundbreaking report shines light on the rule of law across Africa

(This article is provided for informational purposes only and not for the purpose of providing legal advice. For more information on the topic, please contact the author/s or the relevant provider.)