Treasury Confirms MTBPS to Be Tabled on 12 November Amid Budget Cycle Delays

National Treasury has confirmed that the Medium-Term Budget Policy Statement (MTBPS) will be tabled in Parliament on 12 November 2025, dismissing earlier media reports that incorrectly suggested the tabling would take place in January 2026.

In a statement released on Monday, Treasury emphasized the importance of accuracy in financial reporting, calling it “unfortunate and reckless” for the publication to have misrepresented the date without verification.

Parliament Confirms Official Date

Parliament’s programme for the fourth term, released on Monday, confirmed the tabling of the MTBPS on 12 November. According to the Parliamentary calendar, Finance Minister Enoch Godongwana will deliver the statement before the National Assembly, “in line with constitutional and legislative requirements governing the budget process.”

Parliament further announced that the consideration and adoption of the MTBPS will take place on 13 January 2026, after the necessary committee deliberations are concluded.

Why the Date Is Later Than Usual

Traditionally tabled in October, this year’s MTBPS has been delayed. Parliament’s spokesperson, Moloto Mothapo, explained that the later scheduling is a direct consequence of the national budget being re-tabled on 21 May 2025, well after its customary February presentation.

“The later tabling and consideration of the MTBPS is the direct knock-on effect of the national budget itself having been tabled later than usual, owing to well-documented challenges already in the public domain. As a result, subsequent processes in the budget cycle, including the MTBPS, have had to be adjusted accordingly,” Mothapo said.

Despite the delay, he assured that Parliament has maintained constitutional compliance and procedural integrity:

“Parliament has therefore ensured that these processes remain aligned with constitutional requirements, while accommodating the unavoidable delays without compromising scrutiny, accountability, or public participation.”

Importance of the MTBPS

The MTBPS, often referred to as the “mini-budget,” is a critical policy document that sets out the government’s three-year fiscal framework, outlines updated revenue and expenditure forecasts, and provides Parliament with a progress report on the implementation of the main budget.

It also gives the Minister of Finance an opportunity to signal potential adjustments in spending priorities, debt management, and measures to support economic growth in light of prevailing challenges.

This year’s MTBPS is expected to draw particular attention given the fiscal pressures facing South Africa, including high debt levels, constrained revenue collection, and pressing demands for social spending and infrastructure investment.

Preparations Underway

Treasury confirmed that officials are already “hard at work with MTBPS engagements and preparations”, ensuring that the document will be ready for the November deadline.

The upcoming statement is anticipated to address pressing economic concerns, fiscal risks, and government’s strategies for balancing expenditure with the need to stimulate growth and create jobs.