National Treasury Strategic Plan 2012-2016

4
OVERVIEW OF THE ACCOUNTING OFFICER
This is the first time that the National Treasury has produced a five year strategic
plan and an Annual Performance Plan which replace the three-year planning
horizon. These documents mark the first step towards ensuring that we
strike a balance between our short and longer-term goals.
The targets outlined in this Strategic Plan are intended to contribute
in raising the level of economic growth and by so doing, reduce
unemployment and inequality. These targets are also expected to contribute
to the improvement of in the delivery of public services.
We have carefully considered our role within the broader landscape of government, specifically relative to the work
of other coordinating departments such as Economic Development and Public Service and Administration as well
as the two Ministries in the Presidency, namely National Planning and Performance, Monitoring and Evaluation.
The National Treasury will continue to contribute to the design of social and economic reforms, especially in the
areas of transport, energy, telecommunications and health. We will also continue to focus government’s financial
resources on the stimulation of economic growth and job creation.
We also intend to take a more hands-on approach to ensuring that government realises greater value for public
funds spent. In this regard, some of the shortcomings in the management and monitoring of public finances will
be addressed. A multi-faceted approach has been adopted, including changes to supply-chain policy, selected
expenditure reviews as well as technical support where required.
State-owned entities and development finance institutions will continue to invest and fund infrastructure
development that promotes long-term growth. Government will ensure that these institutions remain financially
stable by facilitating cost-effective funding and thus enabling them to deliver on their mandates.
As part of its commitment to transparency, the National Treasury will begin publishing yearly reports on the
management of public debt. These reports, the first of which is scheduled for publication by the end of June 2012,
will complement regular domestic and international road shows as well as the investor relations website.
On the international front, the Treasury will continue to focus on influencing regional and global policies to advance
the economic, financial and development objectives of our country and that of Africa more generally. Over the period
covered by this strategic plan, SACU member States (Botswana, Lesotho, Namibia, South Africa and Swaziland) are
expected to reach agreement on a new revenue sharing arrangement for the customs union. The Treasury will also
engage in multilateral efforts to ensure the full implementation of SADC’s Finance and Investment Protocol.
In light of current global economic uncertainty, G20 member states have been working to intensify international
cooperation, giving particular consideration to the processes and institutions of global governance. The National
Treasury will play a leading role in developing, coordinating and negotiating South Africa’s positions with respect to
this agenda, in close collaboration with the Presidency, DIRCO and other core departments.