South Africa\u2019s National Treasury plans to revamp its 2026 budget-preparation process after political wrangling saw this year\u2019s proposal altered twice.<\/p>\n\n\n\n
\u201cSouth Africa\u2019s current budget process has not kept pace with the country\u2019s evolving fiscal, institutional, and political realities\u201d the Treasury said in a statement on Wednesday. <\/p>\n\n\n\n
\u201cA comprehensive budget reform will be implemented for the 2026 budget that aims to clarify trade-offs, reduce waste, and prioritise high-impact programmes.\u201d<\/p>\n\n\n\n
Its recent review of the budget process revealed \u201cfragmented decision-making, poor policy-budget alignment, and weak consensus on trade-offs in a context of competing priorities and limited fiscal space,\u201d the Treasury said.<\/p>\n\n\n\n
Proposals to raise taxes saw this year\u2019s budget revised twice after members of a 10-party ruling coalition, formed when the African National Congress lost a parliamentary majority in elections last year, opposed it.<\/p>\n\n\n\n
The Democratic Alliance, the second-largest member in the grouping, called on Finance Minister Enoch Godongwana to rather look at ways to fire up the economy and review spending.<\/p>\n\n\n\n
Lawmakers will today vote on the Appropriation Bill, a key piece of legislation required to advance the third version of the budget.<\/p>\n\n\n\n
By law, the Treasury is authorised to prescribe the format for the annual budget. <\/p>\n\n\n\n
It will retain the fiscal objectives outlined in the 2025 plan, including stabilising debt, achieving a primary surplus, and increasing infrastructure investment into next year\u2019s one, it said.<\/p>\n","protected":false},"excerpt":{"rendered":"
South Africa\u2019s National Treasury plans to revamp its 2026 budget-preparation process after political wrangling saw this year\u2019s proposal altered twice.<\/p>\n","protected":false},"author":59,"featured_media":819246,"comment_status":"open","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[1629,3796,853],"class_list":["post-832671","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-government","tag-budget","tag-national-treasury","tag-south-africa"],"_links":{"self":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/832671","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/users\/59"}],"replies":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/comments?post=832671"}],"version-history":[{"count":1,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/832671\/revisions"}],"predecessor-version":[{"id":832674,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/posts\/832671\/revisions\/832674"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media\/819246"}],"wp:attachment":[{"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/media?parent=832671"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/categories?post=832671"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/businesstech.co.za\/news\/wp-json\/wp\/v2\/tags?post=832671"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}