Finance minister Enoch Godongwana forecast 1.8% growth over three years, coupled with a bigger deficit, as debt service costs crowd out fiscal space
The funds have been allocated to the departments of justice and international relations to cover their costs in bringing the case before the International Court of Justice
The treasury also did not allocate new funds to other struggling state-owned entities such as Denel, Transnet, the Land Bank and the South African National Roads Agency
Instead, Finance Minister Enoch Godongwana promised steps to ease the requirements for public-private partnerships
An amount of R11 billion will be set aside to allow people early exit from public service
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 […]