Government allocated funds for G20 Summit

With South Africa taking over the G20 Presidency later this year, the government will allocate additional funding to departments that will be involved in the preparations.

“This is a rare opportunity that only comes along once every 20 years. We plan to use our voice to support a truly Africa-focused agenda as Finance Minister Enoch Godongwana delivers the Medium Term Budget Policy Statement (MTBPS) in Parliament on Wednesday.” he said.

South Africa will hold the G20 Presidency from 1 December 2024 to 30 November 2025.

G20 brings together the countries with the world’s largest economies. Member States meet annually to discuss economic, political and social initiatives.

“Various government departments and agencies will be involved, with the National Treasury and the Central Bank managing the financial route and the Department of International Relations and Cooperation managing the Sherpa route.

“Examples of key topics already selected include accelerating human capital development in the context of artificial intelligence, migration, technology, education and skills gaps; Strengthening multilateral development banks and financing climate-resilient infrastructure to support the development of poorer countries.

“These and other priorities will strengthen South Africa’s contribution to the global policy agenda,” National Treasury’s 2024 MTBPS document said.

South Africa will take over the G20 presidency from Brazil. It will be held with the theme of “Solidarity, Equality and Sustainable Development”.

“Our presidency is the fourth consecutive presidency in which a developing economy will lead the forum affecting global economic issues,” the minister said. – SAnews.gov.za