Pretoria:President Cyril Ramaphosa has emphasized the need for South Africa's improved public finances to result in tangible benefits for its citizens. He highlighted the importance of translating financial stability into enhanced public services, infrastructure development, job creation, and poverty reduction.

According to South African Government News Agency, in his weekly newsletter, President Ramaphosa remarked on the progress made in stabilizing public debt and improving the country's fiscal position. He called for these improvements to be reflected in the daily lives of South Africans, following the presentation of the Medium-Term Budget Policy Statement by Finance Minister Enoch Godongwana.

President Ramaphosa noted that for the first time in nearly two decades, the country's public debt has stabilized and is beginning to decline. He explained that this stabilization allows the government to reduce debt, lower borrowing costs, and strengthen economic confidence. The President also mentioned that the South African Revenue Service's recovery has led to better revenue collection, which is being used to deliver tangible benefits like building schools and clinics, improving public services, and investing in infrastructure.

The government is not only focused on increasing revenue or reducing debt but also on ensuring that public funds are spent efficiently. President Ramaphosa highlighted that over R11 billion in savings has been identified by rationalizing low-priority programs. These savings will be redirected to support health, education, social development, and services for low-income households, accounting for around 60% of non-interest spending.

President Ramaphosa also pointed out the government's efforts to increase infrastructure investment and combat gender-based violence by allocating additional funding for social workers and forensic services. He acknowledged that while progress has been made in stabilizing public finances, many South Africans have yet to experience the benefits of economic recovery.

The President concluded by emphasizing the responsibility of ensuring that improvements in the country's finances lead to meaningful changes in people's lives, asserting that responsible management of public money should ultimately result in a better life for the citizens of South Africa.