Pretoria: The Medium Term Budget Policy Statement (MTBPS) is a demonstration of South Africa’s openness and accountability on spending. This according to Minister in the Presidency, Khumbudzo Ntshavheni, who briefed the media on the outcomes of Cabinet’s recent meeting. The MTBPS was tabled by Finance Minister Enoch Godongwana in Parliament two weeks ago.
According to South African Government News Agency, Ntshavheni highlighted that the MTBPS is part of the nation’s open and accountable budget cycle, facilitating medium to long-term financial planning. It offers South Africans a mechanism to hold government departments and entities accountable on spending and provides investors with certainty regarding the country’s economic direction. She emphasized that the MTBPS aligns with the Government of National Unity’s commitment to fostering rapid, inclusive, and sustainable economic growth, while addressing issues of poverty, inequality, and unemployment.
Ntshavheni stated that the Cabinet has welcomed the MTBPS,
which aligns with the Government of National Unity’s objectives. During the delivery of the MTBPS in October, Finance Minister Godongwana outlined four key pillars intended to drive inclusive economic growth: maintaining macroeconomic stability, implementing structural reforms, building State capability, and supporting growth-enhancing public infrastructure investment. Ntshavheni reiterated that the Cabinet supports these pillars as essential strategies for economic upliftment.
She also mentioned that the country is on track to be removed from the Financial Action Task Force (FATF) greylist, having addressed 16 of the 22 action items identified for reassessment in 2025.