Mboweni requests postponement of mini budget speech

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Finance Minister Tito Mboweni unpacks the R500 billion Covid-19 stimulus package on Friday. The package is aimed at curbing the many economic challenges facing the country. Picture: GCIS
Finance Minister Tito Mboweni unpacks the R500 billion Covid-19 stimulus package on Friday. The package is aimed at curbing the many economic challenges facing the country. Picture: GCIS

BUSINESS


On Tuesday, National Assembly Speaker Thandi Modise received a request from Finance Minister Tito Mboweni for the postponement of the tabling of the medium-term budget policy statement until Wednesday, October 28. It is scheduled for Wednesday, October 21.

Mboweni highlighted the recent complex decisions taken by Cabinet in respect of the 2020/21 adjusted estimates; the 2021 medium-term expenditure framework; and the implications of the time frames for the finalisation of government’s economic reconstruction and recovery plan on the budget process as reasons that necessitated the proposed rescheduling.

READ: Tito Mboweni | Reform is critical to survive

The National Treasury statement adds that Mboweni requested taking into consideration the “complex and unusual circumstances visited upon us by the Covid-19 pandemic”.

“This includes the tabling of a supplementary budget in June 2020. The ministry of finance and the National Treasury have had to adjust the approach and consultation of the budgetary process,” reads the statement.

It adds: “The 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 medium-term budget policy statement will reflect this position.”


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