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medium-term budget policy statement

Mid-term budget: Godongwana maintains line on austerity
Business
/ 30 October 2024

Mid-term budget: Godongwana maintains line on austerity

Finance Minister Enoch Godongwana has doubled down on the government’s fiscal consolidation efforts by reducing spending from 28.6% of GDP in the 2023-24 financial year to 27.6% in 2024-25.  This largely reflects measures implemented in recent years and slower growth projected in non-interest expenditure relative to GDP, the treasury said in its medium-term budget policy […]

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The Fiscal Cliff | Will austerity push South Africa to the brink?
Business
/ 29 October 2023

The Fiscal Cliff | Will austerity push South Africa to the brink?

Today, as the country awaits the next update on the state of its public purse, the prospect of a debt crisis seems more imminent than before. This is as South Africa’s fiscal position has deteriorated markedly during the course of this year, a dilemma that could see the treasury inflicting another round of spending cuts.

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