THE MINISTER OF FINANCE TABLES SUPPLEMENTARY BUDGET 2020
The Minister of Finance, Mr Tito Mboweni, delivered a Supplementary Budget on Wednesday, 24th June 2020. The Public Finance Management Act, read together with the Money Bills Amendment Procedure and Related Matters Act, empowers the Minister of Finance to table an adjustments budget when necessary. The historic nature of the coronavirus pandemic and economic downturn has made it necessary to table an adjustment coupled with President Cyril Ramaphosa’s announcement that government would spend R500 billion to support the economy following the outbreak of the coronavirus.
