SOUTH AFRICAN BUDGET
Surplus Of £4,352,000 Last Year Cape Town, August 10. The Minister of Finance, Mr. N. C. Havenga, announced in his Budget speech that the surplus for the financial year 1937-38 was £4,352,000, which was £2,852,000 above the estimate. Imports for the first time exceeded £100,000,000. The current, year’s revenue is estimated at £41,794,000, leaving a deficit of £1,052,000. which is to be met from taxation adjustments. Provision is to be made for large increases in defence expenditure. The opinion is expressed that the peak of the trade cycle has passed and that various countries are suffering either from a mild recession or a severe depression. The turn of the tide in South Africa has been so slight that she has escaped. While there is no cause for alarm, economists’ warnings must be heeded.
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Dominion, Volume 31, Issue 271, 12 August 1938, Page 11
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136SOUTH AFRICAN BUDGET Dominion, Volume 31, Issue 271, 12 August 1938, Page 11
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