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Midterm Budget Speech postponement


Finance Minister Tito Mboweni has written to National Assembly Speaker, Thandi Modise, requesting to table the 2020 Medium Term Budget Policy Statement (MTBPS) on 28 October 2020.

The Minister was initially expected to table the mid-term budget next week Wednesday.

In a statement, the National Treasury said Modise had acceded to the request subject to the approval of the Parliamentary Programming Committee.

“The Minister has made this request having taken into consideration the complex and unusual circumstances visited upon us by the COVID-19 pandemic, which included the tabling of a Supplementary Budget in June 2020,” said Treasury.

The Ministry of Finance and National Treasury have had to adjust the approach and consultation of the budgetary process.

“Government is determined to maintain a prudent fiscal stance, which is in the best interest of the country in the medium and long-term. The 2020 MTBPS will reflect this position,” said Treasury.