Treasury slashes provincial, municipal equitable share

In an effort to manage the effect of reductions in planned expenditure, relative to the 2020 Budget, the provincial equitable share will be reduced by R209.7 billion in the next three financial years.

The South African government is exploring options to ensure access to COVID-19 vaccines when they become available, says the National Treasury.

President Cyril Ramaphosa’s enthused ambition to funnel much-needed jobs into the South African economy has received a major shot-in-the-arm with an additional R12.6 billion unveiled in the 2020 Mini-Budget.

The country’s security cluster has received a boost in its crime fighting efforts, with National Treasury unveiling various budget allocations in the Medium Term Budget Policy Statement (MTBPS), tabled by Finance Minister Tito Mboweni on Wednesday. 

The severe impact of the Coronavirus pandemic on the economy has forced the National Treasury to embark on extensive fund allocation manoeuvring, in a bid to soften the blow of the pandemic on the most vulnerable.