The budget made provision for total revenue of R900.6 billion in 2012/13 and R986.1 billion in 2013/14. On the contrary, consolidated government expenditure is projected to amount to R1.057 trillion in 2012/13 (revised down from R1.058 trillion in February 2012 Budget) and R1.15 trillion in 2013/14. This translates into a budget deficit of 4.8 per cent in 2012/13 and 4.5 per cent in 2013/14 as a percentage of GDP. These reflect higher than projected fiscal deficits compared to February 2012, which were based on the implications of the 2008/09 recession. It is expected that revenue would recover alongside economic growth and moderate expenditure increases and reduce the budget deficit as a percentage of GDP to 3.1 per cent in 2015/16 financial years.