The finance minister announced a lower inflation target of 3%, which the South African Reserve Bank has been pushing for

Debt service costs and civil servant wages account for 61% of total government spending, reducing budgets for, say, education, infrastructure and health

The advocacy group said despite highlighting infrastructure as one of its main pillars, the policy statement offered little in terms of commitments to fixing school infrastructure backlogs

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

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 […]

The medium term budget policy statement (MTBPS) on 30 October will lay out spending intentions for the next three years. This is the first chance the government of national unity has to meaningfully display its position on fiscal policy. Despite the government’s denial that we have an austerity budget, the continuous slashes to expenditure (after adjusting […]

Accumulated gross debt is expected to stabilise at R6.2 trillion or 74% of GDP by 2026. The annual cost of servicing this deb in that year will be R440 billion

The Reserve Bank governor confirmed the central bank is in talks with the treasury over calls to tap the Gold and Foreign Exchange Contingency Reserve Account This content is restricted to registered users and subscribers. Get Your Free Account The Mail & Guardian is committed to providing all our readers with the best possible experience. Please register your free account now. Your registration is your first step to becoming an M&G community member. Register Registration enables: – M&G newsletters access – notifications – the best possible experience Already registered? Login here Want to subscribe and get even more benefits? Explore our subscription offers

Finance Minister Enoch Godongwana has been battling illness

A senior treasury official told MPs the intention was not to close the widening deficit through higher personal income taxes

Finance Minister Enoch Godongwana has emphasised the need to address supply-side constraints, such as the country’s energy and logistics crises

Increases will be announced in the new year to raise an additional R15 billion in revenue

Finance Minister Enoch Godongwana said he would resist the temptation to respond to the entity’s call for a cash injection through the media

But Finance Minister Enoch Godongwana says beyond that mark, a comprehensive review of all welfare grants is needed

A report by treasury and the World Bank estimated the average funding gap for financing disaster response in South Africa at R2.3 billion

The aim is to get better value for money spent, and to close or merge entities, Finance Minister Enoch Godongwana said

The treasury is looking to enforce strict conditions on the power utility, which is viewed as a major risk to the country’s economic outlook