National Budget Speech 2020
The Finance Minister, Tito Mboweni, delivered the national budget speech in Parliament on 26 February 2020.
In his opening remarks, Minister Mboweni referred to the State of the Nation Address made by President Cyril Ramaphosa, saying," Mr President, in your State of the Nation Address 2 weeks ago you reminded us that our capacity to win is not diminished."
During his speech, Minister Mboweni reaffirmed his commitment to the people of the country. "Regular consultation on fiscal and monetary policy is critical to the sustainability of our fiscal accounts, to the balanced growth of the economy, and to protecting the welfare of our people."
What is the budget speech?
The national budget speech is the government's spending plan for the coming financial year. The minister of finance is responsible for allocating money to the government's different objectives and programmes.
Why is the budget speech important?
The budget speech is important because it outlines the government's priorities for the next financial year. Budget allocations are a key indicator of the level of importance the government places on certain issues. The Constitution of the Republic (Chapter 13) mandates the National Treasury to ensure transparency, accountability and sound financial controls in the management of public finances.
Read the speech
Minister Mboweni's national budget speech 2020.
Read previous budget speeches