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PUB2601 ASSIGNMENT 02 SEMESTER 02 2023
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PUB2601 ASSIGNMENT 02 SEMESTER 02 2023
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1, PUB2601 ASSIGNMENT 2 2023
During the 2022 Annual Budget Speech, Minister Enoch Godongwana stated
that more than R308 billion was directed towards assisting state-owned
companies (South Africa, 2022). As National Treasury is the state department
which is responsible for controlling state expenditure, it advices the Minister
how much the state spends.
In light of this statement, analyse and describe the role and place of
National Treasury in public funding.
The National Treasury is a crucial state department responsible for
managing and controlling public funds in South Africa. In the 2022
Annual Budget Speech, Minister Enoch Godongwana highlighted the
allocation of over R308 billion towards assisting state-owned
companies. This essay aims to analyze and describe the role and place
of National Treasury in public funding, considering their responsibility
to control state expenditure and advice the Minister on spending
decisions.
The National Treasury plays a crucial role in public funding in South
Africa. The National Treasury is responsible for developing the
national budget in consultation with other government departments.
They analyze the country's financial needs and priorities, allocate
funds to different sectors, and ensure that the budget is implemented
effectively.
Moreover, the National Treasury oversees the collection of revenue
for the government, including taxes, duties, and other sources of
income. They work to optimize revenue collection processes, ensuring
that funds are collected efficiently and effective.
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