SA Budget Overview Dr. Clive Coetzee General

SA Budget Overview
Dr. Clive Coetzee
General
Manager:
Infrastructure
Management and Economic Services
KZN Provincial Treasury
Budget in Context of the SA Economy
Budget in Context of the SA Economy – GDP (% pa)
Budget in Context of the SA Economy – Unemployment (% pa)
Budget in Context of the SA Economy – Inflation (% pa)
Budget in Context of the SA Economy – Current Account Deficit (R’m)
Budget in Context of the SA Economy – Household Debt (R’m)
Budget in Context of the SA Economy – Confidence deficit
Budget History and Dynamics
%
National government revenue as percentage of GDP
%
National government expenditure as percentage of GDP
R millions
Total loan debt of national government
R millions
National government deficit/surplus adjusted for cash-flows
%
Total net loan debt as percentage of GDP
%
National government deficit / surplus as % of GDP
R millions
National government expenditure: Interest
R millions
Net saving by general government
R millions
General Government: Current taxes on income and wealth
%
GDP
Ratio of final consumption expenditure by General government to
%
General Government Services to GDP
18
17
16
15
14
13
12
1995
1996
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
%
SA GDP with and without Government Services
7.00
6.00
5.00
4.00
3.00
2.00
1.00
0.00
1996
-1.00
-2.00
-3.00
1997
1998
1999
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
Budget in Context of Current External
Factors
Budget in Context of External Factors
Budget in Context of External Factors
S&P Rating
Moody's
rating
Fitch Rating
SOUTH AFRICA
CHINA
BRAZIL
INDIA
RUSSIA
BBB-
AA-
BBB-
BBB-
BBB-
STABLE
STABLE
STABLE
NEGATIVE
NEGATIVE
Baa1
Aa3
Baa2
Baa3
Baa1
NEGATIVE
STABLE
STABLE
STABLE
NEGATIVE
BBB
A+
BBB
BBB-
BBB
Negative
STABLE
STABLE
STABLE
NEGATIVE
57.44
NEGATIVE
78.82
STABLE
50.73
STABLE
47.12
NEGATIVE
54.81
STABLE
TE Rating
Budget in Context of External Factors
Fragile Five
Current Account deficit to GDP
Government Debt to GDP
Inflation Rate
Currency (1USD)
GDP Growth Rate
Interest Rate
-4.17
56.8
7.7
3.05
-0.2
12.75
-1.7
67.72
5.11
62.21
7.5
7.5
-5.8
46.1
4.4
11.83
1.3
5.75
-7.9
33
7.55
2.61
1.7
7.5
-2.95
26.11
6.29
12900
5.01
7.5
Budget in Context of External Factors
Budget in Context of External Factors
Budget in Context of External Factors
The 2015/16 Budget
Table 1.2 Macroeconomic outlook – summary
2014
Estim ate
2015
2016
2017
1.2
2.0
Forecast
2.6
3.0
-0.6
2.2
3.4
3.8
Exports
0.9
3.3
4.6
5.0
Imports
-0.3
4.6
5.3
5.5
Real GDP grow th
1.4
2.0
2.4
3.0
Consumer price inflation (CPI)
6.1
4.3
5.9
5.7
-5.8
-4.5
-4.9
-5.2
Real percentage grow th
Household consumption
Gross fixed-capital formation
Current account balance (% of GDP)
Table 1.3 Consolidated government fiscal framework
2014/15
R billion/percentage of GDP Revised
estim
ate
Revenue
1 091.0
Expenditure
Budget balance
2015/16
2016/17
2017/18
Medium -term estim ates
1 188.9
1 331.5
1 439.5
28.1%
28.4%
29.3%
29.2%
1 243.4
1 351.0
1 448.8
1 561.7
32.0%
32.2%
31.9%
31.7%
-152.4
-162.2
-117.3
-122.2
-3.9%
-3.9%
-2.6%
-2.5%
Table 1.4 Summary of tax proposals
R m illion
Budget revenue (before tax proposals)
Personal incom e tax
Fiscal drag relief
Rate increase in income tax
Medical credits
Business incom e tax
Energy-efficiency savings tax incentive
Taxes on property
Adjustment in transfer duty
Indirect taxes
Increase in general fuel levy
Increase in excise duties on tobacco products
Increase in alcoholic beverages
Tax proposals after fiscal drag 2015/16 (net):
2015/16 Budget estim ate
1 180 579
–
-8 500
9 420
-920
-150
-150
100
100
8 325
6 490
602
1 234
8 275
Tax revenue (after tax proposals)
1 081 275
Budget revenue (after tax proposals)
1 188 855
Table 1.5 Consolidated government expenditure by function
R billion
Basic education
2014/15
2015/16
Revised
estim ate
189.5
Budget
estim ate
203.5
Average
grow th
2014/15 –
2017/18
6.3%
Health
144.6
157.3
7.1%
Defence, public order and safety
163.0
171.2
5.7%
56.6
62.2
7.1%
Economic affairs
189.4
206.2
6.0%
Local development and social infrastructure
176.6
199.6
8.2%
64.7
64.4
2.6%
143.9
155.3
7.0%
1 128.4
1 219.6
6.5%
115.0
126.4
10.1%
Post-school education and training
General public services
Social protection
Allocated expenditure
Debt-service costs
Unallocated reserves
Consolidated expenditure 1
–
1 243.4
5.0
1 351.0
7.9%
Table 1.6 Division of revenue
R billion
National allocations
2014/15
491.4
2015/16
523.0
2016/17
553.8
2017/18
586.1
Provincial allocations
439.7
468.2
496.3
526.4
Equitable share
359.9
382.7
405.3
428.9
79.7
85.5
91.0
97.5
89.1
99.8
103.9
110.0
1 020.1
1 090.9
1 154.0
1 222.5
National
48.2%
47.9%
48.0%
47.9%
Provincial
43.1%
42.9%
43.0%
43.1%
8.7%
9.1%
9.0%
9.0%
Conditional grants
Local government allocations
Total allocations
Percentage shares
Local government
Table 1.7 Projected state debt and debt-service costs
R billion/percentage of GDP
Net loan debt
Debt-service costs
2014/15
1 584.0
2015/16
1 781.3
2016/17
1 958.1
2017/18
2 151.7
40.8%
42.5%
43.1%
43.7%
115.0
126.4
141.0
153.4
3.0%
3.0%
3.1%
3.1%
Table 3.4 Consolidated operating and capital accounts, 2011/12 – 2017/18
2011/12
2012/13
Outcom e
2013/14
2014/15
Revised
estim ate
R billion
OPERATING ACCOUNT
2015/16
2016/17
2017/18
Medium -term estim ates
Current revenue
830.7
893.4
993.1
1 079.3
1 184.5
1 323.7
1 434.5
Current paym ents
838.6
921.1
1 010.9
1 095.6
1 181.4
1 261.9
1 334.1
Compensation
347.4
376.6
409.5
445.3
479.5
509.6
539.6
Goods and services
150.8
162.7
174.6
180.3
187.7
200.3
209.4
81.7
93.3
109.3
120.8
132.4
146.8
158.3
258.6
288.5
317.5
349.2
381.8
405.2
426.9
-7.8
-27.7
-17.8
-16.3
3.0
61.8
100.4
-0.3%
-0.8%
-0.5%
-0.4%
0.1%
1.4%
2.0%
0.2
0.3
0.3
0.5
0.5
0.5
0.5
62.3
66.3
74.5
86.3
97.5
103.7
111.4
48.4
52.3
55.8
57.7
63.6
67.9
70.9
-110.5
-118.2
-130.1
-143.6
-160.6
-171.1
-181.8
-3.6%
-3.6%
-3.6%
-3.7%
-3.8%
-3.8%
-3.7%
8.2
10.1
10.6
7.5
0.4
7.0
4.2
–
–
–
–
5.0
15.0
45.0
-110.1
-135.8
-137.2
-152.4
-162.2
-117.3
-122.2
-3.6%
-4.1%
-3.8%
-3.9%
-3.9%
-2.6%
-2.5%
Interest payments
Current transfers and subsidies
Current balance
Percentage of GDP
CAPITAL ACCOUNT
Capital receipts
Capital payments
Capital transfers
Capital financing requirem ent
Percentage of GDP
Financial transactions 1
Unallocated reserves
Budget balance
Percentage of GDP
Table 6.2 Provincial equitable share, 2015/16 – 2017/18
2015/16
2016/17
2017/18
Eastern Cape
54 312
57 368
60 069
Free State
21 757
22 775
23 979
Gauteng
73 413
78 237
83 602
Kw aZulu-Natal
82 254
86 885
91 430
Limpopo
45 377
48 121
50 502
Mpumalanga
31 030
32 971
35 113
Northern Cape
10 138
10 730
11 397
North West
26 151
27 676
29 493
Western Cape
38 242
40 501
43 308
382 673
405 265
428 893
R m illion
Total
Table 8.5 Guarantee exposure to major state-owned companies
and development finance institutions, 1 2013/14 – 2014/15
R billion
Total
2013/14
2014/15
2
Guarantee Exposure Guarantee Exposure 2
469.3
209.6
461.1
224.9
350.0
125.1
350.0
144.5
SANRAL
38.7
23.9
38.9
30.2
Denel
1.9
29.6
1.9
25.6
1.9
14.4
1.9
10.1
2.1
0.5
1.8
0.4
25.7
20.5
25.7
20.7
7.9
5.0
14.4
8.3
3.5
3.5
3.8
1.1
3.5
2.6
3.8
2.1
–
0.5
–
0.5
1.9
1.1
0.1
1.1
5.9
1.7
4.9
1.6
of which:
Eskom
Development Bank of
Southern Africa
Industrial Development
Corporation
Trans-Caledon Tunnel
Authority
South African Airways
Transnet
Land and Agricultural
Bank of South Africa
South African Post Office
South African Express
Airways
Other
1997/98
1999/00
2001/02
2003/04
2005/06
2007/08
2009/10
2011/12
2012/13
2013/14
Actual
collections
2014/15
2015/15
2016/17
2017/18
Revised
estimates
Estimates
Estimates
Estimates
illion
es on income and profits
Persons and individuals
Gold mines
Other mines
Companies
Secondary tax on companies/Dividend tax
Tax on retirement funds
Other
95 003.6
68 342.4
332.5
1 349.4
19 696.4
1 446.4
3 229.7
606.8
116 148.9
85 883.8
–
–
20 971.6
3 149.9
5 330.4
813.1
147 310.4
90 389.5
–
–
42 354.5
7 162.7
6 190.6
1 213.1
171 962.8
98 495.1
–
–
60 880.8
6 132.9
4 897.7
1 556.3
230 803.6
125 645.3
–
–
86 160.8
12 277.6
4 783.1
1 936.7
332 058.3
168 774.4
–
–
140 119.8
20 585.4
285.4
2 293.3
359 044.8
205 145.0
–
–
134 883.4
15 467.8
42.7
3 505.9
426 583.7
250 399.6
–
–
151 626.7
21 965.4
6.7
2 585.3
457 313.8
275 821.6
–
–
159 259.2
19 738.7
0.2
2 494.1
507 759.2
309 834.1
–
–
177 324.3
17 308.8
–
3 292.0
556 700.0
350 000.0
–
–
183 000.0
21 400.0
–
2 300.0
620 890.3
393 889.6
–
–
202 032.1
22 483.8
–
2 484.7
678 651.9
433 842.2
–
–
218 211.4
23 910.7
–
2 687.5
744 472.9
479 189.3
–
–
236 690.7
25 677.1
–
2 915.8
–
–
–
0.1
0.1
–
2 717.3
2 717.3
–
3 896.4
3 896.4
–
4 872.0
4 872.0
–
6 330.9
6 330.9
–
7 804.8
7 804.8
–
10 173.1
10 173.1
–
11 378.5
11 378.5
–
12 475.6
12 475.6
–
13 200.0
13 200.0
–
14 690.0
14 690.0
–
16 140.0
16 140.0
–
17 800.0
17 800.0
–
2 618.4
17.7
302.6
442.3
1 855.8
–
3 808.4
15.2
304.2
1 090.4
1 821.6
577.0
4 628.3
20.6
481.9
1 212.8
2 913.0
–
6 707.5
17.1
417.1
1 101.1
5 172.1
–
11 137.5
29.5
624.7
1 973.4
8 510.0
–
11 883.9
27.6
691.0
3 757.1
7 408.2
–
8 826.4
60.1
759.3
3 324.0
4 683.0
–
7 817.5
52.7
1 045.2
2 886.1
3 833.6
–
8 645.2
82.1
1 013.0
3 271.9
4 278.3
–
10 487.1
112.8
1 101.5
3 784.3
5 488.5
–
12 602.7
172.4
1 430.3
4 300.0
6 700.0
–
13 691.7
186.2
1 545.2
4 645.4
7 314.9
–
14 822.6
199.6
1 670.2
5 027.1
7 925.7
–
16 088.8
213.7
1 811.7
5 456.0
8 607.4
–
60 619.0
40 095.6
7 425.8
581.6
12 091.2
–
–
424.8
72 184.7
48 376.8
8 886.1
584.3
14 289.8
–
–
47.6
86 885.1
61 056.6
9 797.2
776.1
14 923.2
296.4
–
35.5
110 108.6
80 681.8
11 364.6
1 016.2
16 652.4
367.2
–
26.5
151 223.7
114 351.6
14 546.5
1 157.3
20 506.7
458.2
–
203.4
194 690.3
150 442.8
18 218.4
1 480.5
23 740.5
540.6
–
267.5
203 666.8
147 941.3
21 289.3
1 275.9
28 832.5
580.3
3 341.7
405.7
263 949.9
191 020.2
25 411.1
1 828.3
36 602.3
762.4
6 429.7
1 895.8
296 921.5
215 023.0
28 377.7
2 231.9
40 410.4
873.1
7 983.9
2 021.4
324 548.2
237 666.6
29 039.5
2 363.3
43 684.7
878.7
8 818.9
2 096.5
355 717.9
260 600.0
32 000.0
3 231.7
48 200.0
966.3
8 600.0
2 119.9
389 427.3
283 793.6
34 483.3
3 491.2
55 666.0
1 043.9
8 774.1
2 175.1
422 378.1
313 689.5
35 390.8
3 782.3
57 130.7
1 130.4
9 004.5
2 249.9
458 883.3
346 711.0
36 428.2
4 101.1
58 807.4
1 226.8
9 268.5
2 340.3
es on international trade and transactions
Customs duties
Import surcharges
Other
5 638.6
6 055.7
-1.4
-415.7
6 778.1
6 517.8
0.4
259.9
8 680.1
8 632.2
0.5
47.5
8 414.3
8 479.4
–
-65.1
18 201.9
18 303.5
–
-101.6
27 081.9
26 469.9
–
612.0
19 318.9
19 577.1
–
-258.3
34 121.0
34 197.9
–
-76.9
39 549.1
38 997.9
–
551.2
44 732.2
44 178.7
–
553.4
40 779.4
39 900.0
–
879.4
42 575.8
41 660.0
–
915.8
47 206.8
46 191.9
–
1 014.9
52 466.0
51 338.1
–
1 128.0
mp duties and fees
1 483.8
1 618.9
1 767.2
1 360.1
792.8
557.1
49.5
-2.9
0.5
31.7
–
–
–
–
es on payroll and workforce
Skills development levy
Payroll levy
es on property
Donations tax
Estate duty
Securities transfer tax
Transfer duties
Demutualisation charge
mestic taxes on goods and services
Value-added tax
Specific excise duties
Ad valorem excise duties
General fuel levy
Air departure tax
Electricity levy
Other
Table B.1 Public-sector infrastructure expenditure and estimates, 2011/12 – 2017/18
2011/12
R billion
2012/13
2013/14
Outcom es
2014/15
2015/16
2016/17
Estim ates
2017/18
MTEF
Total
Energy
67.1
75.1
69.5
69.2
71.1
56.0
39.2
166.3
Water and sanitation
19.2
22.6
26.2
34.8
37.3
39.8
40.3
117.4
Transport and logistics
70.1
69.5
76.4
93.7
104.3
113.5
121.4
339.2
Other economic services
11.5
8.9
11.8
17.5
15.4
15.5
14.7
45.6
Health
7.7
9.7
10.6
9.7
9.3
9.9
10.3
29.5
Education
7.8
9.8
12.3
13.5
14.5
14.5
14.8
43.7
15.7
2.8
10.7
4.4
10.3
4.0
11.5
3.9
10.6
4.5
11.3
5.2
11.6
5.5
33.5
15.2
6.5
6.9
5.8
8.6
6.9
7.7
8.2
22.7
208.3
217.7
226.9
262.4
274.0
273.3
265.8
813.1
Other social services
Justice and protection
services
Central government,
administration services
and financial services
Total
National departments
6.6
9.6
10.6
11.2
13.8
16.0
15.4
45.3
Provincial departments
43.4
36.4
39.5
44.0
45.0
47.7
47.4
140.1
Local government
33.2
41.7
47.1
58.3
55.9
59.0
62.0
177.0
Public entities 1
15.4
14.1
13.0
27.5
26.1
26.0
26.9
79.0
Public private partnerships
10.7
2.6
3.0
3.1
2.9
3.3
3.4
9.7
98.9
208.3
113.4
217.7
113.7
226.9
118.3
262.4
130.1
274.0
121.3
273.3
110.7
265.8
362.2
813.1
State-ow ned companies
Total
1
Table B.3 Infrastructure nature of investment, 2011/12 – 2017/18
Nature of investm ent
R m illion
Departm ental
infrastructure
2011/12
2012/13
2013/14
Audited outcom e Prelim inary
e
6 451.0
9 314.8 outcom
9 005.7
2014/15
2015/16
2016/17
Estim ates
2017/18
11 213.9
13 817.2
16 003.8
15 447.2
2 752.7
4 212.2
4 641.2
6 377.7
7 500.4
8 920.5
8 511.6
Maintenance and repairs
328.3
191.0
437.4
648.1
620.5
578.5
805.5
Upgrading and additions
Rehabilitation and
refurbishment
2 964.3
3 640.5
3 266.2
3 562.7
4 414.7
4 892.9
4 378.1
405.7
1 271.0
660.9
625.5
1 281.6
1 612.0
1 752.0
83 463.6
84 268.0
90 508.1
107 762.6
113 764.2
119 955.5
126 536.4
189.4
398.2
384.6
555.8
318.4
318.1
338.1
83 274.2
83 869.8
90 123.5
107 206.9
113 445.8
119 637.4
126 198.3
89 914.6
93 582.7
99 513.8
118 976.6
127 581.4
135 959.3
141 983.6
New infrastructure assets
Infrastructure transfers
Current
Capital
Total
Table 7.1 Ownership of domestic government bonds, 2009 – 2014
Percentage of total
Non-residents
2009
13.8
2010
21.8
2011
29.1
2012
35.9
2013
36.4
2014
36.0
Residents
86.2
78.2
70.9
64.1
63.6
64.0
Pension funds
39.9
36.5
33.0
29.8
29.1
31.7
Monetary institutions
18.3
17.7
16.3
17.0
14.6
14.7
Insurers
12.4
14.1
11.6
9.4
8.6
8.2
Other financial institutions
13.2
8.1
8.0
5.8
8.2
8.7
2.4
1.8
2.0
2.1
3.1
0.7
Other
Table C.4 Annual income tax payable, 2015/16 (taxpayers below age 65)
Taxable incom e (R)
2014/15 rates (R)
Proposed 2015/16
rates (R)
Tax change (R)
% change
85 000
2 574
2 043
-531
-20.6%
90 000
3 474
2 943
-531
-15.3%
100 000
5 274
4 743
-531
-10.1%
120 000
8 874
8 343
-531
-6.0%
150 000
14 274
13 743
-531
-3.7%
200 000
25 056
24 191
-865
-3.5%
250 000
37 556
37 191
-365
-1.0%
300 000
51 421
50 986
-435
-0.8%
400 000
82 549
82 326
-223
-0.3%
500 000
117 549
118 326
778
0.7%
750 000
213 247
215 297
2 050
1.0%
1 000 000
313 247
317 797
4 550
1.5%
The main tax proposals include:
• Increasing marginal personal income tax rates by one percentage point
for all taxpayers earning more than R181 900, and adjusting tax
brackets and rebates to account for fiscal drag
• Raising the general fuel levy by 30.5 c/litre and the Road Accident Fund
(RAF) levy on fuel by 50 c/litre (a total increase of 80.5 c/litre)
• Taking further steps to combat base erosion and profit shifting
• Providing for a more generous turnover tax regime for small businesses
• Increasing excise duties on alcohol and tobacco products
• Reviewing the diesel refund scheme
• Strengthening the energy-efficiency savings incentive
• Raising the electricity levy
• Changing transfer duty rates and brackets.
Baseline expenditure reductions of R25 billion over two years:
• Reductions to current spending by national departments of R2.3 billion
in 2015/16 and R3.9 billion in 2016/17, to be achieved mainly through
decreases in budgets for non-core goods and services.
• Reductions to capital spending of national departments by R280
million (2015/16) and R911 million (2016/17), mainly on non-critical
items of machinery and equipment.
• Reductions in allocations to public entities of R2.4 billion (2015/16)
and R2.6 billion (2016/17).
• Reductions in transfers to provinces of R4.4 billion (2015/16) and
• R6.6 billion (2016/17).
• Reductions in conditional allocations to local government of
R921 million in 2015/16 and R1.4 billion in 2016/17.
Country Name
Macao SAR, China
Algeria
Denmark
Seychelles
New Zealand
Norway
Malta
South Africa
Cyprus
United Kingdom
Jamaica
Luxembourg
Belgium
Georgia
Morocco
Botswana
St. Lucia
Namibia
Switzerland
Japan
United States
Spain
Ethiopia
Pakistan
South Asia
Afghanistan
India
Bangladesh
Central African Republic
2001
2002
2003
2004
2005
2006
17.27
18.13
20.86
22.07
21.63
28.78
25.26
28.86
26.88
28.64
26.14
28.47
27.93
24.81
40.46
27.14
24.20
41.15
26.04
24.95
26.39
7.35
24.60
25.38
7.62
19.93
28.75
32.73
29.52
26.31
56.54
24.00
43.66
25.21
24.46
24.61
24.77
7.03
19.64
30.00
27.02
29.52
27.81
60.41
25.33
42.82
25.45
25.12
24.31
25.28
9.93
19.87
31.76
27.36
30.56
28.73
60.77
26.86
45.44
25.76
25.34
25.68
25.36
12.11
21.97
22.17
26.40
22.39
25.98
21.45
23.18
22.50
24.29
22.84
25.76
9.16
9.17
9.18
12.03
15.55
8.08
10.04
8.33
10.01
12.58
9.71
10.31
8.79
9.49
11.79
9.12
10.78
9.18
9.60
11.95
9.68
10.28
9.51
9.38
10.54
10.76
12.60
8.72
9.60
9.87
7.94
7.60
8.53
7.70
8.95
8.07
9.41
8.11
9.91
8.22
2007
2008
2009
2010
2011
2012
21.58
40.75
30.62
24.61
32.37
29.40
63.52
28.38
47.71
26.46
26.14
24.61
25.04
15.45
22.43
26.93
22.49
29.15
26.01
37.43
34.88
23.58
30.53
28.61
65.90
28.87
54.14
26.24
27.00
25.04
24.37
17.72
25.12
25.71
22.78
27.56
30.67
45.25
33.94
22.48
32.17
28.26
27.19
28.15
51.02
27.30
27.27
24.90
24.73
23.81
27.57
26.96
24.70
30.27
29.68
35.14
33.32
25.24
31.32
26.29
27.82
25.41
25.77
24.45
27.16
25.62
23.32
23.14
23.97
27.72
24.26
29.61
34.25
34.40
32.89
27.75
28.20
27.23
27.01
25.74
25.87
25.18
26.54
25.23
23.89
22.14
23.43
21.96
23.10
21.71
37.64
37.36
32.98
31.68
28.30
27.80
26.45
25.95
25.85
25.79
25.70
24.68
24.01
23.83
23.80
23.65
23.45
23.11
9.48
10.93
11.45
13.16
8.26
8.75
10.57
6.88
11.03
7.04
9.31
10.47
11.49
13.51
7.81
9.23
11.36
5.23
11.89
6.92
9.96
9.28
10.03
10.15
7.81
9.49
10.47
6.04
10.75
7.66
8.28
9.82
8.70
8.21
8.34
6.58
8.94
9.53
8.43
9.64
7.50
8.22
9.63
9.14
8.82
11.05
8.16
9.98
10.12
9.12
10.19
7.83
9.06
9.76
9.76
9.70
9.35
9.21
9.19
8.97
8.85
8.80
8.69
8.36
Tax revenue (% of GDP)
36.98
33.40
31.21
29.27
27.29
27.02
26.50
25.49
25.29
27.07
25.53
24.86
24.12
24.49
27.13
23.04
10.09
10.21
7.08
10.10
10.63
7.47
10.66
9.46