Africa-Press – South-Africa. The National Treasury is taking steps to avoid another budget debacle by inviting the public to participate in the fiscal process.
It follows Cabinet’s approval of reforms in July aimed at strengthening the budget system by making it more robust and inclusive.
The finance minister is due to table the medium-term budget policy statement towards the end of October, just three months after Parliament finally approved the national budget after months of political disagreement.
For the first time in the country’s history, a multi-party Cabinet put the brakes on the finance minister tabling the country’s budget in February.
It would take at least two more attempts for a revised budget to meet political approval five months later.
Now, as the Treasury prepares for the mid-term budget, it’s inviting more public involvement in the budgeting process, with an engagement scheduled for Friday to present an overview of the country’s macro-fiscal situation and the choices government faces to meet competing demands.
In a public invitation, the Treasury said it was an opportunity for civil society organisations, businesses, professionals and interested citizens to engage directly with government on the trade-offs involved in drafting a budget.
In light of low economic growth, high debt and competing demands for funding, the Treasury said it was looking for innovative ideas to enhance fiscal sustainability.
According to the budget guidelines recently adopted by Cabinet, government has committed to a more disciplined, transparent and strategically-aligned process, with clearly outlined time frames for reaching all the stages.
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