Tag: fiscal consolidation
Cost of reporting delays – why accuracy and speed matter
With many South African companies preparing for the financial year-end, the spotlight is once again on financial reporting. This business function, while often taken for granted, holds enormous sway over strategic decisions, stakeholder trust and regulatory compliance.
Upholding fiscal responsibility – a call for good governance
In the challenging economic circumstances that South Africa currently faces, the impact of fiscal responsibility – the balanced use of government spending and tax to influence the economy – on taxpayers, businesses, and the nation's overall economic well-being cannot be overstated.
Budget 2024 – navigating uncertainty in challenging times
Minister of Finance Enoch Godongwana will deliver the 2024 Budget Review to Parliament next week as the South African economy faces a gloomy economic outlook. The economy is still recovering from the impact of COVID-19 and state capture.
2022 budget – reading between the lines
Budget 2022 was a ‘read between the lines’ event and should be interpreted with cautious optimism, we argue. Much weaker GDP inflation assumptions allowed the National Treasury to downplay future revenue collections, yet still bring the primary budget back into surplus a year earlier than originally planned, in line with our view.
Markets confirm a positive reaction to Godongwana’s first major speech
Finance Minister Enoch Godongwana’s first significant speech since his appointment in August 2021 saw a minimal reaction from the equity market. Good news had been expected from the Medium-Term Budget Policy Statement (MTBPS) and the market signalled its satisfaction that there were no negative surprises, such as alluding to tax rate increases.
