Mid-term budget: Godongwana maintains line on austerity
/ 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 […]