Finance Minister Malusi Gigaba
Photo by: Bloomberg
National Treasury on Monday confirmed the resignation of the Budget Office head deputy director-general Michael Sachs.
According to a National Treasury statement released on Monday, Sachs has expressed his interest to serve the public sector in a different capacity.
An earlier report by Fin24 alleged that Sachs quit last week over interference by the Presidency.
Treasury said Sachs would not be leaving National Treasury immediately to ensure a proper handover to another senior official and to allow for a smooth transition with as little interruption to the work of the Budget Office.
Finance Minister Malusi Gigaba said he was saddened by Sachs’s resignation but thanked him for his “excellent service, and strong commitment to the national budget” as well as for his commitment to the department over the years.
“Both the Director-General and I are aware of protecting the integrity and transparency of the Budget system and process, and ensuring that all tax and expenditure decision processes continue to be run by the Treasury and Minister of Finance, and continues with the consultative process introduced by the first democratic government,” Gigaba said.
Gigaba has moved to assure the country that Treasury remained committed to a budget with a focus on fiscal consolidation and that it was mindful of the economic challenges of the country while protecting the poor.