Emergency budget ‘first of its kind’ - economist
Chief economist at Econometrix Dr Azar Jammine says the “emergency budget” to be tabled by Finance Minister Tito Mboweni in June will be the first of its kind.
Mboweni plans to table the budget, which makes provision for Covid-19 relief efforts, on 24 June.
Treasury on Wednesday published the special adjustment budget guidelines on its site, which includes deadlines for departments to make submissions on their adjustment budgets, including the date for the tabling of the new budget.
Jammine says the budget will be a formal re-prioritisation of government’s expenditure.
Government revenue is expected to drop by 20% and 35% due to the lockdown and the drop in economic activities, Jammine predicts.