Cabinet to approve a policy note outlining key elements of amendments to the Fiscal Management (Responsibility) Act of 2003, with a view to strengthening fiscal rules with legally binding fiscal targets, a clearly defined escape clause, and correction mechanisms in case of a target breach, in line with staff recommendations.
At R5, the condition is reset with a new test date. An IMF TA mission took place in March 2019 and made recommendations relevant to preparing the cabinet note. Cabinet approved the note in July 2019.