Mboweni recommends government budgeting off a clean slate
The finance minister says now is the time to be ‘brave, forthright and determined’ in adopting a feasible budget
12 June 2020 - 12:40
Finance minister Tito Mboweni says he is strongly recommending to president Cyril Ramaphosa and the cabinet that the government adopt a form of budgeting that does not operate on the basis of the previous year’s budget as a baseline.
Called zero-based budgeting, this is a method of budgeting in which all expenses must be justified for each new period. It starts from a zero base and every function within an organisation is analysed for its needs and costs...
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