Tuesday, April 16, 2024
National Treasury has welcomed South Africa’s ranking by the International Monetary Fund’s Fiscal Transparency Evaluation Report of being among the top three countries worldwide for fiscal transparency.
According to the International Budget Partnership, South Africa has a strong record of fiscal transparency and consistently ranks among the top three countries worldwide for transparency.
“A predictable and transparent fiscal policy underpins macroeconomic stability. The IMF’s Fiscal Transparency Evaluation Report notes a strong performance in fiscal reporting and budget transparency,” National Treasury said on Tuesday.
The report also suggested improvements in three areas, which include:
- Fiscal reporting: Expand and align fiscal reporting to international best practice by including other spheres of the public sector, strengthening tax expenditure disclosure, and improving adherence to audit timelines for published financial statements;
- Forecasting and budgeting: Implement precise, time-bound and stable fiscal rules, and
- Fiscal risk analysis: Enhance analysis of risks in the fiscal risk statement, publish public-private partnership financial data regularly, consolidate transfers to state owned companies to show fiscal impact and set limits on government guarantees.
“Work is underway on all these areas. Government is committed to addressing these areas to enhance fiscal credibility and ensure continued transparency and accountability in the management of public finances,” National Treasury said.
The full report can be accessed from the IMF website on: https://bit.ly/4arlhux. – SAnews.gov.za
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Hemlock
Canada: You have two cows. But who cares about beef when you\’ve got Poutine.
ManMaker
Interview with a pirate:
There was a pirate who had agreed to do an interview with a local tv station. The reporter was very courteous and professional, giving a bit of background as to the pirate\’s business. She then began interviewing him.
\”So Mr. Longbeard, are there any risks to your business? I see you have a peg leg- how did that come about?\”
\”Well, y\’see I were sailing along the coast of South Africa, looking to plunder some locals when as I boarded the small boat from the ship, a great white shark came up and got my leg clean off. \’twas scary yes, but thus is the life of a pirate.\”
\”Wow, that is pretty scary- well, how about your hook? What happened to your hand with that?\”
\”Oh now that\’s quite the tale, y\’see I were fighting a rival pirate, and we had locked swords. We had been fighting for a few hours, and were both terribly fatigued. I had a bit of exhaustion and confusion, and when I went to block one of his sword blows, I met him with me hand instead of me sword. Took it right off, but it shocked him so much I managed to get him back pretty good and have him submit. So the hook hand was given as a replacement.\”
\”Wow. Simply fascinating. Now, what about your eye patch? How did that happen?\”
\”Well, one day, a seagull was flying overhead, and I looked up. It pooped right in me eye.\”
\”… Well wow. I must admit, I wouldn\’t think just seagull poop could damage the eye that badly.\”
\”Oh, I forgot to mention… it were me first day with the hook.\”