South Africa is committed to strong fiscal discipline

fiscal article

• With regards to the fiscal framework, government has stuck to its spending limits for the past three years and is on track to stay within the expenditure ceiling in 2015/16.

• Government’s central fiscal objective over the medium term is to stabilise the growth of debt as a share of GDP.

• Strict adherence to the planned expenditure ceiling as well as the proposed long-term fiscal guideline of linking government spending with long term growth are projected to result in gross debt stabilising at 49.4% of GDP in 2018/19.

• South Africa has also regularly acknowledged for the transparency of its budget procedures. According to the Open Budget Index of the International Budget Partnership, South Africa is ranked third of 102 countries in 2015.