(Bloomberg) -- South Africa’s medium-term budget – the first since the formation of a new coalition government in June – focused on luring investors for infrastructure projects, but an increase in spending and lower-than-anticipated revenue meant the budget deficit exceeded forecasts. 

Here’s a rundown of who will be impacted by Finance Minister Enoch Godongwana’s budget update:

Winners

The government plans to designate investment in roads, ports and utilities as a “standalone asset class” and introduce infrastructure investment trusts. Spending on capital assets is set to jump almost 11% in the next four years as the government buys equipment for large projects. New public works are likely to boost demand for cement, steel and other building materials. 

The government intends increasing investment in bulk water, sanitation infrastructure and efficient water-management strategies. It will also implement a new water-pricing strategy.

The struggling state-owned operator of the nation’s ports and freight-rail system may be in line for government support if it sells non-core assets and explores project financing, concessioning and joint ventures to fund new projects and maintain existing ones. 

South Africa’s military will be allocated 3.5 billion rand ($198.9 million) to fund a peacekeeping mission in eastern Congo, where rebel groups have been wreaking havoc.  

The government has reinstated a program that will enable state workers to take early retirement and has set aside 11 billion rand over the next two fiscal years to fund it.  

The Treasury will repay 3.2 billion rand owed by South African National Roads Agency (SOC) Ltd. to compensate it for losses stemming from a scrapped freeway tolling project in the central Gauteng province. 

Losers

The government’s consolidated budget deficit is forecast to widen to 5% in the year ending March 31, exceeding the Treasury’s 4.5% estimate in February. The government also intends taking on more debt than previously planned in the next two fiscal years.  

The embattled electricity utility, whose shortcomings caused daily power cuts until earlier this year, risks losing 2 billion rand of government aid if it fails to sell its financing unit by March 31. 

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