Home Business and Technology Parliament postpones medium-term budget speech

Parliament postpones medium-term budget speech

Tito Mboweni and Cyril Ramaphosa

Parliament has acceded a request by National Treasury to delay the Medium-Term Budget Policy Statement by a week.

Finance Minister, Tito Mboweni, was set to deliver the mini-budget next week.

The National Assembly says the rescheduling is subject to the approval of the Parliamentary Programming Committee.

Tito Mboweni

Mboweni says his request for a postponement is due to delays in the finalisation of the Economic Reconstruction and Recovery Plan.

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

“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 MTBPS will reflect this position,” National Treasury said in a statement.

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Source: eNCA