Economists and Fiscal Policy experts recently gathered to provide advice to the Western Cape Minister of Finance, Dr Ivan Meyer, as he sets about finalising the Western Cape Medium Term Budget Policy Statement.
Hosted by the Provincial Treasury the fourth annual Fiscal Policy Seminar held on 1 November 2018 with the theme “Consolidation for maximum citizen impact” the 2018 Seminar, aimed at obtaining insights to strengthen the Western Cape Government’s approach to a fiscal strategy that will give greater effect to its policy priorities, while being cognisant and responsive to the economic and fiscal risks facing the citizen of this Province.
Nicky Weimar, senior economist from Nedbank, Shaun de Jager of the South African Reserve Bank, Ian Stuart of National Treasury, Christo van der Rheede of Agri SA and Harry Malila of the Western Cape Provincial Treasury shared their views and offered possible solutions to the deteriorating economic performance, continued revenue shortfalls, weaker rand, the civil service wage bill which continues to crowd-out budgets, and higher debt projections,
Head Official at the Provincial Treasury, Zakariya Hoosain said: “The Finance Minister’s 2018 National MTBPS, once again sets out the uncertainty faced by our economy. We are at a cross-road. Many of the risks identified in previous years, have either materialised or even persisted. The Fiscal Policy Seminar gives us the opportunity to tap into ideas from experts to formulate possible solutions for the Western Cape.”
Commenting on the seminar Minster Meyer stressed the importance of bringing together role players that could assist government in the formulation of policies.
“The annual Fiscal Seminar plays an important role is assisting the Western Cape Government to formulate a responsible, enabling fiscal approach that contributes to the creation of public value. Over the next few days these inputs will be considered as I finalise my Medium Term Budget Policy Statement”.
Minister Meyer will be delivering the Western Cape Government’s Medium term Budget Policy Statement on 22 November 2018.