Question NW1811 to the Minister of Finance
03 June 2022 - NW1811
Komane, Ms RN to ask the Minister of Finance
Whether, given the current developments of lockdown in China and the supply chain disruptions caused by what is happening between Russia and Ukraine, the National Treasury will be required to revise its key assumptions and projections such as budget surplus by 2023; if not, what is the position in this regard; if so, what are the further, relevant details?
Reply:
The National Treasury is monitoring the impact of the global and domestic economic developments on the fiscal framework. This is part of the macro-fiscal planning process that takes place every quarter which involves updating the macroeconomic and revenue forecast. The impact of the Russia-Ukraine war will be included in the updated macroeconomic forecast and framework that will be published in the 2022 MTBPS.