Treasury confirms resignation of Michael Sachs

Minister Malusi Gigaba

National Treasury confirms the resignation of its Deputy Director-General: Budget Office, Michael Sachs.

“Mr Sachs has expressed his interest to serve the public sector in a different capacity,” its statement, issued on Monday afternoon, said.

“Mr Sachs will not be leaving National Treasury immediately to ensure a proper handover to another senior official and to allow for a smooth transition with as little interruption to the work of the Budget Office as possible. Mr Sachs works with many knowledgeable technocrats who he has also helped groom over his years at the department.”

The statement goes on to say that the Minister of Finance, Malusi Gigaba, is saddened by Mr Sach’s resignation but has thanked him for his excellent service, and strong commitment to the national budget as well as the department over the years.

“The Minister has wished Mr Sachs well in his future endeavours.”

Minister Gigaba said: “Both the Director-General and I are aware of protecting the integrity and transparency of the Budget system and process, and ensure that all tax and expenditure decision processes continue to be run by the Treasury and Minister of Finance, and continues with the consultative process introduced by the first democratic government.”

According to the statement, the Minister wishes to assure the nation that Treasury remains committed to a budget that focuses on fiscal consolidation and mindful of the economic challenges of the country while protecting the poor.

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