South Africa

Fiscal Transparency Evaluation

Author: Ms. Carolina Renteria Rodriguez, Trish N Chiinze, Mrs. Sage De Clerck, Ms. Foyzunnesa Khatun, Natalie Manuilova, and Mr. Vincent Tang

Volume/Issue: Volume 2024 Issue 017

Publication date: May 2024

ISBN: 9798400274152

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Topics covered in this book

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Money and Monetary Policy , Public Finance , International - Economics , Fiscal transparency , fiscal reporting , budgeting , fiscal risks , budget transparency , budget credibility , State capture , procurement deficiency , risk category , Fiscal Transparency Evaluation (FTE) , Budget planning and preparation , Africa

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Summary

South Africa has many elements of sound fiscal transparency practices. Based on an assessment of fiscal transparency practices against the IMF’s Fiscal Transparency Code, South Africa’s practices are strongest in fiscal reporting, followed by fiscal forecasting and budgeting, and weakest in fiscal risk analysis. South Africa’s Balance Sheet public sector net worth – including assumptions for the values of non-reported assets – is estimated to be 100 percent of GDP. There is room to improve South Africa’s fiscal reporting, budget transparency, and management of fiscal risks.