Overview

• National Treasury confirmed the Medium-Term Budget Policy Statement will be presented on 12 November 2025 and called reports punting a 2026 date erroneous.
• Parliament’s fourth-term programme lists 12 November for the tabling, with the National Assembly Programme Committee resolving that Finance Minister Enoch Godongwana will present it in accordance with budget rules.
• The National Assembly is scheduled to consider and adopt the MTBPS on 13 January 2026 after committee processes are completed.
• The later timetable follows a national budget process that ran behind schedule after Cabinet disagreements over VAT proposals and court challenges, culminating in a budget that kept VAT at 15%.
• Treasury said officials are conducting engagements and preparations in the lead-up to the 12 November tabling.