MTBPSMedium Term Budget Policy Statement (Pretoria, South Africa)
MTBPSMosaic Templars Building Preservation Society
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We assume that the budget to be presented in February 2018 will contain revenue- and expenditure-side consolidation measures that are already being discussed by the Presidential Fiscal Committee but that were not yet factored into the MTBPS.
The Minister of Finance, Mr Pravin Gordhan will table the MTBPS on Wednesday 26 October 2016 at 14h00.
GCIS Acting DG, Donald Liphoko, said, The MTBPS is an important part of South Africas open and accountable budget process.
The MTBPS makes it possible for Parliament and the public to interact with government's budget plans several months ahead of the budget, itself, in February next year.
These Budget Review and Recommendation (BRR) reports must be tabled in the NA before reports on the MTBPS are adopted.
As for the extent of the increase, that is something that still has to be debated as we continue with our hearings in the next few weeks as part of the MTBPS processes.
The fact that resources have been found in the system to cover the shortfall means that we can cast our eye on the long-term interventions when dealing with the MTBPS processes.
The thrust of the MTBPS was that we are staying the course of continuing on sustaining the progress that we've made even during this time of difficult economic environment," he said.
Nene informed journalists ahead of his MTBPS that, We need to find a solution to the immediate crisis we are faced with.
Finance Minister, the Honourable Nhlanhla Nene, highlighted these complexities during the tabling of his MTBPS in November last year, where he emphasised the importance of ensuring that the fiscus remains sustainable and rooted on the principles of both counter-cyclical intervention and long-term debt sustainability.