Finance Minister Enoch Godongwana is delivering the Medium-Term Budget Policy Statement (MTBPS) in Parliament, on Wednesday 30 October, beginning at 14.00.  

The MTBPS units authorities coverage objectives and priorities, forecasts the macroeconomy trajectory, and tasks the fiscal framework over the following three years by outlining spending and income estimates. 

GODONGWANA TABLES MEDIUM-TERM BUDGET POLICY STATEMENT 

The Medium-Term Budget Policy Statement performs a big position in how the nation manages its cash and influences the budget we see every February. 

The MTBPS does greater than report funds; it shapes the nation’s finances. It gives an in depth plan and shares what the National Treasury expects the economic system to do. It additionally allows the federal government to make fast adjustments to its budgets in an emergency.

On Wednesday – amid demands from political parties -Godongwana is ready to desk 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 Amendment Bill.

WATCH GODONGWANA DELIVER MINI-BUDGET SPEECH LIVE

MTBPS EXPECTED TO STABILISE DEBT RATIO

Meanwhile, Johann Els, Group Chief Economist at Old Mutual, the Medium-Term Budget Policy Statement is anticipated to showcase continued fiscal consolidation efforts and coverage reforms to slim the finances deficit and stabilise the debt ratio over the approaching years.

Els stated the nation’s fiscal place is steadily enhancing, and the finances deficit is anticipated to slim farther from 2023’s figures. The consequence this 12 months will monitor higher than February’s estimates.

The chief economist additionally predicted that the first finances stability would attain a barely larger surplus this 12 months – in comparison with earlier estimates, a big milestone that the Treasury expects will proceed to strengthen within the medium time period. This progress is attributed to improved income efficiency and disciplined expenditure management, that are more likely to cut back the fiscal deficit to round 4.3% of GDP, down from earlier projections of 4.5%.

WHAT DO YOU WANT GODONGWANA TO FOCUS ON IN THE MEDIUM-TERM BUDGET POLICY STATEMENT?

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