SA must take a ‘bold step’ towards fiscal sustainability

In his Supplementary Budget Speech in June, Minister of Finance, Tito Mboweni, indicated that government would adopt a zero-based approach to budgeting.

This would essentially mean that the budget is created from scratch every year, rather than using the previous year’s budget as the starting point. All government departments will have to justify all their expenses and will need to show that their programmes and actions will be worth the money allocated thereto.

Mboweni is set to deliver the Medium-Term Budget Policy Statement (MTBPS) at the end of October,