This briefing on the proposed 2021 National Budget examines the size and composition of the budget and its financing. It looks into the macroeconomic assumptions used in drawing up the budget. Moreover, the budget is a key instrument for the government’s macroeconomic policy objectives. The level and growth of government revenues and expenditures affect economic growth as measured by GDP and other macroeconomic variables such as inflation, interest rates, exchange rates and employment. In turn, these macroeconomic variables affect government revenues and expenditures.