Update on the sustainable fiscal framework and measures taken to address economic challenges
27 November 2017
President Jacob Zuma has directed the Minister of Finance, Mr Malusi Gigaba assisted by the Presidential Fiscal Committee, to identify concrete measures to urgently address the challenges identified in the Medium-term Budget Policy Statement.
The President as well as Cabinet have re-affirmed government's commitment to maintain a sustainable fiscal framework and to ensure that a solution is found to address the roughly R40 billion gap that has been identified, through a combination of expenditure reductions and revenue-enhancing measures.
President Zuma has directed that technical discussions of the Presidential Fiscal Committee take place, led by Minister Gigaba and the National Treasury, to focus on four areas, with a view to the proposals that emanate from this process being considered through the budget structures in preparation for the 2018 Budget.
The four areas are: