Treasury says working hard to improve fiscal discipline

The IMF says some key reforms have stalled and many state-owned enterprises, which remain engines of growth, have stalled.

Security guards at National Treasury. Picture: EWN

JOHANNESBURG - The Treasury says it has taken heed of criticism by the International Monetary Fund (IMF) that key reforms have stalled but says it has been hard at work to correct this.

The IMF has been meeting government, state-owned entities, business and others over the past two weeks to assess structural reforms and overall growth.

The global body says it's concerned that there has been little change in key areas.

The IMF says some key reforms have stalled and many state-owned enterprises, which remain engines of growth, have stalled.

It says an accelerated pace of implementing structural reforms could prompt a recovery in business and consumer confidence, which could improve economic growth.

In response, the Treasury says it has noted the IMF's pronouncement on South Africa's growth potential and has been hard at work over the past few days to improve fiscal discipline and debt sustainability.

It says the presidential fiscal committee is now working towards establishing measures to support growth.