A Budget is the government's financial plan made every year. A budget announces all projected expenditure, income and borrowing over the next three financial years (referred to as the Medium Term). Informed by political priorities in the medium term strategic framework, it functions to allocate resources to these priorities, while ensuring improved quality and effectiveness of public spending.
The Minister of Finance uses the Budget Speech to update Parliament and the country on the state of the economy, public finances and on progress on the government's objectives. The Budget allocates money between the three spheres of government (national, provincial, local) based on revenue collected.
Link to the Budget Speech on Parliament's website
[ Ссылка ]
