Finance Minister Enoch Godongwana delivered the Medium-Term Budget Policy Statement (MTBPS) in Parliament, on Wednesday 30 October.
The MTBPS sets government policy goals and priorities, forecasts the macroeconomy trajectory, and projects the fiscal framework over the next three years by outlining spending and revenue estimates.
The Medium-Term Budget Policy Statement plays a significant role in how the country manages its money and influences the budget we see every February.
The MTBPS does more than report finances; it shapes the country’s budget. It provides a detailed plan and shares what the National Treasury expects the economy to do. It also enables the government to make quick changes to its budgets in an emergency.
On Wednesday – amid demands from political parties-Godongwana is set to table the Adjustments Appropriation Bill, the Rates and Monetary Amounts and Amendment of Revenue Laws Bill, the Taxation Laws Amendment Bill, the Division of Revenue Amendment Bill, and the Tax Administration Laws …