Question NW136 to the Minister of Finance
09 March 2023 - NW136
Buthelezi, Mr EM to ask the Minister of Finance
In view of the fact that the Government has displayed a clear inability to responsibly manage public finances which resulted in a deviation from its attempts to promote economic development, good governance, social progress and a rise in living standards, what measures is the National Treasury putting in place to regain efficient, equitable and sustainable management of the Republic’s public finances?
Reply:
The causes of South Africa’s poor economic growth and development are complex and multi-faceted. It includes the impact of state capture, as outlined by the Zondo Commission findings published in 2022. The National Treasury provides a bi-annual update on the performance of the economy and the policy proposals to improve it in the annual Budget Review and in the Medium-Term Budget Policy Statement. In addition, both publications provide an update on the state of public finances, with the Budget Review providing a comprehensive outline of the spending plans, division of revenue, the liability position of government, as well as government assets in the form of public entities. The President also submitted the response of Government to Parliament on 22 October 2022, which outlined the response of Government to the recommendations made by Judge Zondo in his report on State Capture. Members of Parliament and the public may examine the details of these publications for information on what government is doing to address the country’s challenges. All the documents are available on the National Treasury or government websites.