Finance minister Tito Mboweni. Picture: RUVAN BOSHOFF
Finance minister Tito Mboweni. Picture: RUVAN BOSHOFF

National Assembly speaker Thandi Modise has agreed to finance minister Tito Mboweni's request to postpone the upcoming medium-term budget policy statement (MTBPS) to October 28, subject to the approval of parliament’s programming committee.

Mboweni 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,” the Treasury said in a statement on Wednesday morning. 

The ministry and the Treasury have had to adjust the approach and consultation of the budgetary process, it said, adding that the “government is determined to maintain a prudent fiscal stance that is in the best interest of the country in the medium and long-term”.

“The 2020 MTBPS will reflect this position,” it said.

The MTBPS was originally scheduled for October 21 and is due to follow the release of President Cyril Ramaphosa’s reconstruction and recovery plan, which will be unveiled in parliament on Thursday.

The MTBPS will have to flesh out how the path to recovery can be paid for and the likely effects for the government’s finances, which were already stretched before the pandemic hit.

The Treasury’s statement follows parliament’s announcement on Tuesday that the ministry had requested the delay. Parliament said the national programming committee would “consider and finalise” the request.            

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