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Medium Term Expenditure Framework Guidelines Preparation of Expenditure Estimates for the 2014 Medium Term Expenditure Framework National Treasury June 2013 STATEMENT OF INTENT Economic outlook Fiscal policy has been an important contributor to the economy and at the same time has ensured that budgets are sustainably financed. Owing to sound management of the fiscus when economic growth was strong, government was able to enter the 2008-2009 recession with healthy public finances and a comparatively low level of debt. This enabled a flexible response to deteriorating economic conditions. Spending growth reinforced the social security net during a period of exceptional hardship for many South Africans, and provided an economic stimulus through rising allocations towards infrastructure, and programmes aimed at business support and increasing employment.
Medium Term Expenditure Framework Guidelines Preparation of Expenditure Estimates for the 2014 Medium Term Expenditure Framework National Treasury
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