SA ranks top three for fiscal transparency

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Finance Minister Enoch Godongwana. PHOTO: X/Treasury_RSA

The International Monetary Fund’s Fiscal Transparency Evaluation Report has recognised South Africa’s standing among the top three nations globally for fiscal transparency. The report has been welcomed by National Treasury.

As per the findings of the International Budget Partnership, South Africa maintains an impressive track record of fiscal transparency, consistently securing a position in the top three.

“A predictable and transparent fiscal policy underpins macroeconomic stability. The IMF’s Fiscal Transparency Evaluation Report notes a strong performance in fiscal reporting and budget transparency,” the National Treasury said.

The report did, however, suggest improvements in three areas:

  • Fiscal reporting
  • Forecasting and budgeting
  • Fiscal risk analysis

“Work is under way on all these areas. Government is committed to addressing these areas to enhance fiscal credibility and ensure continued transparency and accountability in the management of public finances,” the National Treasury stated.

 

Compiled by Warren Hawkins

warren@mahareng.co.za