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2020 Special Adjustment Budget on Track

May 14, 2020

National Treasury

National treasury plans to table the 2020 Special Adjustment Budget in parliament on 24 June 2020.

Treasury announced this in 2020 Special Adjustment Budget Guidelines.

According to treasury, the proposed Special Adjustment Budget “seeks to modify the 2020/21 budget to utilise current baseline allocations to provide for the rapidly changing economic conditions and enable spending on the COVID-19 response”.

Treasury also plans to present a revised fiscal framework to “account for substantial revenue losses emanating from the economic shock of the pandemic and subsequent lockdown”.

Any other adjustments not included in the Special Adjustment Budget will be outlined in the October Medium Term Budget Policy Statement.

Technical financial amendments included in the Special Adjustment Budget process include adjustments due to significant and unforeseeable economic and financial events; Section 16 of the PFMA; virements and shifts within votes/departments and direct charges against the National Revenue Fund.

The tabling on 24 June 2020 will also include a Mini Budget Review document, Special Adjustments Appropriation Bill, Division of Revenue Amendment Bill and a revised Fiscal Framework.