Finance Minister Chris Liebenberg presents his budget

The SA finance minister, Chris Liebenberg, presented his 1996 - 1997 budget to parliament. It was a cautious package intended to reduce the fiscal deficit and provide tax relief to low and middle-income groups. Liebenberg pronounced his primary aim as to build on the government's reputation for fiscal discipline, while paving the way for more significant budgetary reforms in the 1997-1998 financial year. He further reported perpetual economic growth, registering 3.5 per cent in 1995, the highest since 1988.