Ramaphosa says R11bn in government savings identified as SA’s finances improve

President Cyril Ramaphosa says government has identified more than R11 billion in savings by cutting low-priority programmes, but acknowledges that South Africa’s improving public finances have yet

Ramaphosa said the improvement, alongside the end of load shedding, South Africa’s removal from the Financial Action Task Force grey list and positive credit rating developments, had strengthened confidence in the economy.

Ramaphosa said government was changing how public money was spent and monitored, with a focus on eliminating waste and

The broader savings exercise also includes measures to a

Ramaphosa said the temporary reduction was one of the measures government was using to help households cope with the rising cost of living.

services.

We shouldn’t mistake financial stability for the end of the road. There is still a lot of work to do.

The Pietermaritzburg and Midlands Chamber of Business also welcomed aspects of the MTBPS, including the temporary fuel levy reduction, increased allocations for municipal services and continued