medium term budget policy statement

MTBPS 2015: Nene ‘cost cutting reduces government consumption’

Finance Minister Nene says cost containment measures implemented in 2013 have led to a drop in state consumption, and the Treasury has proposed a rise in spending in the long term to sustain debt levels in rough economic times, including a R200-million investment in energy.

MTBPS 2015: Nene ‘cost cutting reduces government consumption’

Finance Minister Nene says cost containment measures implemented in 2013 have led to a drop in state consumption, and the Treasury has proposed a rise in spending in the long term to sustain debt levels in rough economic times, including a R200-million investment in energy.

Nene walks a tightrope

The budget will be a balancing act. Reining in spending and raising taxes will usher in a few years of pain – not very heavy pain, but unavoidable pain – and the finance minister will need to find a way to spread it among as many groups as possible without causing anger or resentment.

International agencies affirm South Africa’s ratings

Standard & Poor's and Fitch both kept their ratings of South Africa steady on Friday. They were confident that The Treasury was committed to tight fiscal discipline, but warned that weak economic growth, industrial action and persistent electricity shortages kept their outlook negative.

Moody’s rating: South Africa has plans to revive economy

South Africa is implementing measures to revive the economy after rating agency Moody’s downgraded the country’s credit rating. On the positive side, the ratings agency revised the country’s credit outlook from negative to stable, reflecting government’s commitment to fiscal discipline.

Moody’s rating: South Africa has plans to revive economy

South Africa is implementing measures to revive the economy after rating agency Moody’s downgraded the country’s credit rating. On the positive side, the ratings agency revised the country’s credit outlook from negative to stable, reflecting government’s commitment to fiscal discipline.

SA’s public sector wage bill ‘stabilising’

South Africa's biggest employer - the government - is committed to ensuring that the growing public sector wage bill does not threaten the country's expenditure ceiling, Finance Minister Pravin Gordhan said in presenting his 2013 medium term budget policy statement to Parliament.

SA reaffirms growth, job-friendly policies

South Africa remains committed to prudent economic policies supportive of growth and job creation, the National Treasury said following Fitch's revision of the outlook on the country's sovereign credit rating.

Gordhan moots contingency reserve

The National Treasury is looking at creating a separate kitty or "policy reserve" of funds, drawn from surpluses in its existing investments and revenue, in order to support economic development, says Finance Minister Pravin Gordhan.

SA’s R800bn infrastructure drive

South Africa is set to spend over R802-billion on infrastructure development over the next three years as part of a government drive to ease bottlenecks and reduce costs in the economy, "crowd in" private investment and improve access to export markets.