Government engages public on fiscal framework

The National Treasury has encouraged the public to submit written comments on the Fiscal Anchors Discussion Document, which proposes reforms to stabilise South Africa’s debt and aims to improve public sector efficiency.

The discussion document outlines how

slow economic growth and persistent budget deficits have led to a tripling of public debt over the last 15 years. This has forced the government to spend more on interest payments, crowding out services and investment. 

In response to this challenge, the document proposes two broad reform options namely a Numerical Fiscal Rule, and an enhanced Parliamentary Procedures Mode.

The National Treasury recently held a first round of consultative stakeholder workshops on the document, marking the opening stage of a broader consultation process aimed at strengthening the sustainability, credibility, and transparency of South Africa’s fiscal framework.

“We are encouraged by the thoughtful contributions made during these initial workshops. This was the beginning of a much wider conversation. We look forward to hearing from many more voices in the months ahead,“ Minister of Finance Enoch Godongwana said.

Three workshops were convened with a broad group of experts with a direct interest in macro-fiscal issues: 
•    Civil society organisations (workshop held in Pretoria on 28 July 2025),
•    Participants in the debt-capital markets (workshop held in Sandton on 30 July 2025), and
•    Academics (workshop held in Cape Town on 7 August 2025)

Building on the success of these first workshops, government will host public webinars, followed by a conference alongside the consideration of the 2026 Budget. 

“In the months ahead, government will have further public engagements, including a larger conference. The conference will provide a formal platform for broad public participation and expert contribution, culminating in a published conference report. 

“This report will feed into the preparation of a refined Treasury proposal for consideration later in 2026. Written submissions are invited ahead of the conference, with selected contributions to be presented during the event,” National Treasury said.

Interested parties are encouraged to read the discussion document and submit their written feedback to: fiscal.policy@treasury.gov.za by 15 December 2025. 

The Discussion Document and presentations shared at the workshops are available on the National Treasury website (https://www.treasury.gov.za/) . -SAnews.gov.za