The Medium Term Budget Policy Statement (MTBPS) is a demonstration of South Africa’s openness and accountability on spending.
This according to Minister in the Presidency, Khumbudzo Ntshavheni, who briefed the media on the outcomes of Cabinet's recent meeting.
The MTBPS was tabled by Finance Minister Enoch Godongwana in Parliament two weeks ago.
“The MTBPS is part of our nation’s open and accountable budget cycle, that allows for medium to long-term financial planning of our nation’s finance. It also allows South Africans to hold government departments and entities to account on spending and gives investors surety over the country’s economic direction.
“[The MTBPS] gives effect to the commitments of the Government of National Unity to pursue rapid, inclusive and sustainable economic growth, and create a more just and equitable society by tackling poverty, inequality and unemployment,” she said.
Ntshavheni said Cabinet had welcomed the MTBPS, which supports the Government of National Unity’s aims.
During the delivery of the MTBPS in October, Godongwana highlighted four pillars to spur on inclusive economic growth, namely:
- Maintaining macroeconomic stability.
- Implementing structural reforms.
- Building State capability.
- Supporting growth-enhancing public infrastructure investment.
Ntshavheni said Cabinet is backing the statement delivered by Godongwana.
“Cabinet supports the four pillars to uplift the economy through macroeconomic stability, implementing structural reforms, building State capability and increasing public infrastructure investment.
“The country is also on track to be removed from the Financial Action Task Force (FATF) greylist, having already addressed 16 of the 22 action items identified ahead of FATF reassessment in 2025,” Ntshavheni said. – SAnews.gov.za
