Treasury RSA

Minister of Finance, Mr Enoch Godongwana, tabled the Medium Term Budget Policy Statement (MTBPS) today. The statement outlined South Africa’s fiscal outlook, spending priorities, and commitment to sustainable and inclusive growth.

The new inflation target for South Africa is 3% with a 1 percentage point tolerance band, aiming to provide flexibility to accommodate unexpected inflationary shocks, according to the National Treasury and the South African Reserve Bank. The Daily Maverick’s Neesa Moodley reports that this move points to the country’s Government of National Unity finding common ground with the Medium Term Budget Policy Statement after 3 failed attempts at the Budget this year.