Minister Must Curb Fiscal Spending

 22 October 2014.

“The Inkatha Freedom Party was hoping to see a far more austere outlook by Minister Nene in his Medium Term Budget Policy Statement today, particularly in light of his revised estimate of 1.4% for economic growth which was way below the initial treasury projections at the beginning of 2014,” said IFP spokesperson on Finance, Ms Sibongile Nkomo, MP.

Nkomo further added that,” It is also likely that because of this growth stagnation we will not be able to meet our current debt and deficit targets this year, or for the next few years to come, which reinforces our call upon Treasury to tighten the fiscal belt in terms of spending, especially when using debt to finance such spending.”

“Our public services remain bloated which places a dangerous financial burden on the fiscus, especially in times of such slowed economic growth, and this should also be addressed as a matter of urgency,” concluded Nkomo, MP.

 

Contact:
IFP Spokesperson on Finance, Ms Sibongile Nkomo, MP, on 076 553 1240

Issued by IFP Media, Parliament