South Africa: Technical Assistance Report-Fiscal Transparency Evaluation
Technical Assistance Reports, April 15, 2024
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- South Africa: Technical Assistance Report-Fiscal Transparency Evaluation
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Bibliographic details
- Published: April 15, 2024
- Series: Technical Assistance Reports
- DOI: https://doi.org/10.5089/9798400271670.019
Assessment overview
- Based on an assessment against the IMF’s Fiscal Transparency Code.
- Overall finding: South Africa has many elements of sound fiscal transparency practices.
- Relative strengths and weaknesses:
- Strongest: fiscal reporting.
- Next strongest: fiscal forecasting and budgeting.
- Weakest: fiscal risk analysis.
- Overall conclusion: There is room to improve South Africa’s fiscal reporting, budget transparency and management of fiscal risks.
- Publication date: April 15, 2024.
Key findings
- Fiscal reporting: identified as the area of strongest practice.
- Fiscal forecasting and budgeting: assessed as the second-strongest area.
- Fiscal risk analysis: assessed as the weakest area, indicating gaps in identification, measurement, disclosure, or management of fiscal risks.
- General observation: despite many sound elements, improvements are needed in fiscal reporting, budget transparency, and fiscal risk management.
Policy recommendations (inferred from identified gaps)
- Strengthen fiscal reporting practices to enhance completeness, timeliness, and accessibility of fiscal data.
- Improve budget transparency to provide clearer information on fiscal plans, assumptions, and budgetary outcomes.
- Enhance management of fiscal risks by improving risk identification, quantification, disclosure, and mitigation frameworks.
Subjects and keywords
- Subjects: Budget planning and preparation, Economic sectors, Expenditure, Financial statements, Fiscal risks, International organization, Monetary policy, Public financial management (PFM), Public sector
- Keywords: Africa, Budget planning and preparation, communication technology, Economic sectors, Expenditure, Financial statements, Fiscal Affairs Department of the IMF, Fiscal Reporting, Fiscal Risks, Fiscal Transparency, GFS Division, Global, Group chief financial officer, IMF's Fiscal Affairs Department, Public financial management (PFM), Public sector, Public sector., South Africa
International Monetary Fund. South Africa: Technical Assistance Report-Fiscal Transparency Evaluation, April 15, 2024.
Content in this bundle
- Tarea2024031