Minister of Finance Enoch Godongwana will today present the 2024 Medium Term Budget Policy Statement (‘2024 MTBPS’) to Parliament.

‘The MTBPS is a critical element in the overall budget process, as it sets out the policy framework for the budget presented every February. It also provides the country and its elected representatives with an update on the National Treasury’s economic forecasts, adjusts the budgets of government departments, and makes emergency changes to spending,’ Parliament said in a statement.

The MTBPS allows Parliament and the public to interact with the government’s budget through committee oversight over government departments when committees review the effective and efficient use of available resources.

The MTBPS is preceded by the Budget Review and Recommendations Reports, which must be tabled in the National Assembly before the MTBPS reports are adopted.

‘At the same National Assembly (NA) sitting, the Minister is also scheduled to table the Adjustments Appropriation Bill, the R
ates 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,’ Parliament said.

Members of the public may get involved and follow parliamentary sittings live on Parliament TV (DSTV Channel 408) or on Parliament’s YouTube channel and on Parliament’s X-page (https://twitter.com/ParliamentofRSA).

The Minister will table the MTBPS in the NA at 14h00.

Source: South African Government News Agency