Cyril Ramaphosa (pic: Russell Roberts)
Today, the National Treasury commented on measures being considered for igniting economic growth in South Africa.
“In his statement to the nation on July 31, President Cyril Ramaphosa made it clear that the funding for measures being considered to ignite economic growth would be done in a manner that ensured that government maintained fiscal prudence.
“Consideration of the funding for these measures will be done through normal budgetary processes, which include preparatory work and presentation of recommendations by National Treasury to the Ministers’ Committee on the Budget (MinComBud), a Cabinet subcommittee chaired by the Minister of Finance, which in turn makes recommendations to Cabinet.
“The measures that are being considered for igniting economic growth will be funded through the reprioritisation of existing budgetary resources. Further details on these measures will be announced by the President in due course.”
Subscribe to our free newsletter
Stay at the forefront of financial advisory excellence with MoneyMarketing's weekly insights. As a professional adviser, you'll receive carefully curated content that enhances your practice and client relationships without cluttering your inbox. Our commitment to delivering only relevant, actionable intelligence helps you make informed decisions that drive your business forward. Join our community of leading financial professionals today and transform your practice with our complimentary newsletter—because your success is our priority.
