Mid-Term Budget Polict Statement: Finance Minister to update revenue, expenditure estimates

Finance Minister Enoch Godongwana is set to deliver the Medium-Term Budget Policy Statement (MTBPS) in Parliament this week, a little more than three months since the country’s main budget was passed after two false starts.

With lessons learned from that protracted process, which included a legal challenge over a proposed Value-Added Tax (VAT) increase, less contestation is expected this time around. The Finance Minister sets out to update revenue and expenditure estimates and to top up funds where necessary. He is tabling the mid-term budget a little later than is customary.

On Wednesday, Godongwana will table the Adjustments Appropriation Bill along with several other bills on rates and taxation.

Parliamentary spokesperson Moloto Mothapo said the tabling of the mini-budget plays a critical role in the overall budget process, setting out the policy framework for the main budget.

“It also provides the country and its elected representatives with an update on the national treasury’s economic focus, adjusts the budgets of government departments and makes emergency changes to spending.”

However, the National Assembly won’t finish the process before the end of the year, once again setting an uncustomary date in January to finalise the budget—just a month before the 2026 National Budget is due to be tabled.