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· South African Finance Minister Tito Mboweni has urged that the Medium Term Budget Policy Statement be deferred by a week to 28 October 2020, which was earlier scheduled for 21st October
· Accordingly, the finance minister sent a communication to the Speaker of the National Assembly Ms Thandi Modise for an alternate date of Wednesday, 28 October 2020 for the tabling of the 2020 Medium Term Budget Policy Statement
South African Finance Minister Tito Mboweni has urged that the Medium Term Budget Policy Statement be deferred by a week to 28 October 2020, which was earlier scheduled for 21st October.
Accordingly, the finance minister sent a communication to the Speaker of the National Assembly Ms Thandi Modise for an alternate date of Wednesday, 28 October 2020 for the tabling of the 2020 Medium Term Budget Policy Statement.
The Medium-Term Budget Policy Statement lays out the priorities over the next three years for the government. In the supplementary budget tabled in June Mboweni warned the country of a sovereign debt crisis if economic growth continued to stagnate. He also said that the country’s budget deficit was expected to increase to 14.6% of GDP, a major increase from February’s projection of 6.8%.
