Treasury urges public to participate in pre-budget consultations

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National Treasury has invited the public to participate in pre-budget consultations.

South Africa is one of five pilot countries participating in the Fiscal Openness Accelerator project that was launched in 2019 by the International Budget Partnership and the Global Initiative for Fiscal Transparency, Treasury said in a statement.

The initiative is aimed at improving government practice and policy on public participation, closing the feedback loop on the budget process and increased government responsiveness and public accountability.

Budget 2021, said Treasury, “confirmed government’s fiscal strategy of returning public finances to a sustainable position through ongoing restraint in expenditure growth and implementation of structural reforms to support economic growth”.

In this context, the fiscal strategy aims to narrow the deficit and stabilise the debt-to-GDP ratio, primarily by controlling non-interest expenditure growth.

The strategy also seeks to provide continued support to the economy and public health services in the short-term without adding to long-term spending pressures.

National Treasury said it is soliciting the public’s views on SA’s fiscal policy on what improvements can be made to the budget.

The deadline for written submissions is 17 September.

The registration for online public consultation will be opened prior to the meeting, to be held in the fourth week of September.

– SAnews.gov.za

Source: citizen