MTBPS | What to expect amid major economic stress

Finance Minister Enoch Godongwana will deliver the National Treasury’s Medium Term Budget Policy Statement tomorrow.

As the term indicates, it’s the Treasury outlining its policy approach to government finances over the next three years, with a focus on revenue and expenditure performance in the current 2026 / 27 financial year.

Economists indicate that Treasury reports so far have shown higher-than-expected tax revenues coming into the fiscus, putting National Treasury on a better footing.

But with major economic stress in terms of higher inflation and now higher interest rates, what can we expect National Treasury to say and do?

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