The Minister of Finance, Enoch Godongwana, will present the MTBPS on Wednesday, 12 November 2025 at 14:00pm.
The venue is the Good Hope Chamber and the speech will be broadcasted by all major media houses, including Parliament’s Youtube channel.
The MTBPS – referred to as the “mini-budget” – allows government departments to apply for adjustments to their budgets, apply for rollovers, and request additional funds for unforeseeable and unavoidable expenditures. It also sets out the policy framework for the Budget that is presented every February and updates National Treasury’s economic forecasts.
The mid-term budget also includes information on:
- Spending estimates for the first half of the current year;
- Any adjustments to the proposed revenue and spending estimates for the second half of the current year; and
- Outcomes for the previous year.
Why is it important?
The mini-budget plays a critical role in the entire budgetary process because it sets the tone for the fiscal framework* for the next national budget. It also provides Parliament and the country as a whole with an update on how Treasury perceives the present economic situation. (*the fiscal framework refers to the broad budgetary aggregates of total revenue, expenditure, and borrowing for a given year).
The budget is the most important economic instrument of government, as it reflects the country’s socioeconomic policy priorities by translating priorities and political commitments into expenditures. Minister Godongwana is expected to present South Africa’s economic outlook as analysed and forecasted by the National Treasury. The economic outlook is a forecasted expectation for how well the economy will perform during the upcoming quarter, year, or the long run. This would include projections for inflation, productivity growth, unemployment, and balance of trade. The economic outlook is critical and watched closely by investors, rating agencies, taxpayers, and citizens at large.
Key areas that have typically been focused on in budget statements include fiscal policy, public debt, infrastructure spending, social welfare, and strategies for economic recovery and growth. The delivery of the Medium-Term Budget Policy Statement often addresses the government’s plans and allocations to navigate these challenges.
When is the MTBPS tabled?
It is tabled three months before the national budget, usually in October every year (it is delayed this year). It is tabled immediately after the Budget Review and Recommendation Report (BRRR) process, where the annual reports of departments are scrutinised.
What other legislative instruments are introduced on this day?
The Minister will table the Adjustments Appropriation Bill, the Rates 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.
What Is the Medium-Term Expenditure Committee (MTEC)?
This is a technical committee that is responsible for evaluating the medium-term expenditure framework (MTEF) budget submissions of national departments and institutions by making recommendations to the Minister of Finance (through the Minister’s Committee on the Budget (MINCOMBUD) regarding allocations to national departments. It is made up of representatives from select government departments.
What is the role of Parliament in relation to the MTBPS?
Members of Parliament are elected by the people to represent them; therefore, Parliament authorises the executive to spend, tax, and oversee executive action on behalf of the people of South Africa. Through effective budgetary oversight, Parliament can go a long way in addressing socio-economic challenges such as poverty, inequality, and unemployment. The MTBPS makes it possible for Parliament and the public to interact with the government’s budget plans several months ahead of the budget set for February 2026. One of the mechanisms used by Parliament is through committee oversight over departments when they review the effective and efficient use of available resources. The process is known as the Budget Review and Recommendations Reports (BRRRs), and they must be tabled in the National Assembly before the MTBPS reports are adopted.
What happens after the tabling of the MTBPS?
After the tabling of the MTBPS, Parliamentary Committees (Appropriations and Finance) conduct public hearings with relevant stakeholders. Submissions are received from the stakeholders during the public hearings. Thereafter, the committees prepare a report and table it in the National Assembly, which further scrutinises expenditure and revenue proposals. Thirty days after the tabling of the MTBPS, the finance committees of the two Houses must report on the proposed fiscal framework, and the Appropriations committees must report on the proposed division of revenue and grant allocations to provinces and local governments. The applicable legislation is also considered.