National Treasury reported that the consolidated government deficit is projected to recover from 6.3 per cent of GDP in the 2010/11 financial year to 3.2 per cent by the 2013/14 financial year. The recovery will be driven by the strong uptake in revenue and the stabilisation in non-interest spending. Growth in expenditure will need to moderate as debt service costs increase over the MTEF. The counter-cyclical fiscal policy will aim to grow revenues while gradually reducing non-interest stimulus spending. It is important to keep the fiscal trajectory on a sustainable path while meeting growth expectations.