Parliament’s financial cluster demands urgent action to deal with Budget deficit

By Simon Nare

Wasteful expenditure, corruption and inefficiency are some of the contributors to budget constraints and the country sinking deeper into debt. South Africa’s economic growth has averaged below 1% in the last decade.

MPs serving in Parliament’s financial cluster lambasted how recklessly the government was spending money, while failing to keep tabs on how it was being spent. This placed additional pressure on the Treasury to raise money for the deficit.

They were briefing the media during Parliament’s weekly update on Monday.

Standing Committee on Public Accounts chairperson Songezo Zibi said Parliament could not discuss the Budget while ignoring the fact that the government misused money through bad policies, maladministration and corruption.

Zibi said the country was borrowing too much while spending inefficiently or allowing money to be stolen.

He said government debt was R1.79 trillion in 2014/15 financial year, and R5.26 trillion in 2023/24. During this period