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#Budget2024 in a nutshell: No major tax hikes

But Sarb-administered contingency reserve account will be tapped for billions.

South africaSouth africanEnoch godongwanaSa gold foreign exchange contingency reserve accountNational treasuryAccident fundAfrican reserve bankFinance minister enoch godongwanaCape townRoad accident fundForeign exchange contingency reserve accountSouth african reserve bankTerm budget policy statement

Budget 2024: Why we re tapping into the SA Reserve Bank s pot of gold

Treasury has managed to avoid a debt blowout and reverse a plan to implement big departmental budget cuts by asking the Reserve Bank for help. These are funds in reserve and are meant to offer a buffer and protection to South Africa against local and external economic shocks.

South africaCape townWestern capeDuncan pieterseAfrican reserve bank sarbNational treasuryForeign exchange contingencyParliament onForeign exchange contingency reserveSouth african reserve bankDwayne seniorGetty imagesTerm budget policy statementBudget 2024 speech debt service costs duncan pieterse gold and foreign exchange contingency reserve government national treasury ray mahlaka sarb south african bank

Treasury taps into R500bn contingency reserve account

Official discussions only began with the South African Reserve Bank in July 2023, highlighting an under-pressure move.

South africaEnoch godongwanaMmakgoshi lekhetheLesetja kganyagoAfrican reserve bank sarbGold foreign exchange contingency reserve accountNational treasuryForeign exchange contingency reserve account defrayal amendmentForeign exchange contingency reserve accountMinister enoch godongwanaCape townSouth african reserve bankReserve bankTerm budget policy statementGovernor lesetja kganyagoBudget review

South Africa s economy estimated to grow 1 6 pct over next 3 years: minister

CAPE TOWN, Feb. 21 (Xinhua) South Africa's economy is estimated to have grown by 0.6 percent last year and will increase to 1.6 percent over the next three years, Finance Minister Enoch Godongwana said here Wednesday.

Cape townWestern capeSouth africaEnoch godongwanaFinance minister enoch godongwanaTerm budget policy statement

Boost for education sector — but half will be swallowed by salaries

Finance Minister Enoch Godongwana said the increase in the education budget accommodated R25.7bn in carry-through costs of the wage increase.

Enoch godongwanaNational student financial aid schemeTerm budget policy statementAdjustments appropriation billMinister enoch godongwanaMedium term expenditure frameworkMedium term expenditureBudget 2024 education enoch godongwana georgina crouth nsfas

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