South Africa’s 2025 budget is a cautious step toward fiscal stability, with debt peaking at 76.2% of GDP in 2025-26 and a narrowing deficit. For employees, it offers short-term respite but lacks the ambition to transform lives.

Finance Minister Enoch Godongwana delivered the 2025 National Budget Speech on Wednesday (12 March). The budget addressed several key points, including the country’s current economic status, growth projections, substantial debt servicing costs, proposed increases in VAT and sin taxes, and the continuation of the social relief grant.

As South Africa awaits the 2025 Budget, Casey Sprake warns of key issues that could shape the nation’s future.

B udget announcements are rarely dramatic events in South Africa. But the statement on March 12th by Enoch Godongwana, the finance minister, could be the most consequential since the end of white rule in 1994.

The 2025 budget proposals are out at last! The good news is that VAT is not going all the way up to 17% (yet), but individuals will feel the fiscal drag due to a lack of inflation-based adjustments. The first draft of the budget speech,

Economy expert Maarten van Doesburgh has weighed in on the upcoming budget speech, saying that the government need to focus on growing the economy going forward.

South African Finance Minister Enoch Godongwana may have to make changes to the national budget after parties that control more than half the seats in parliament rejected his plans to raise taxes.

South Africa's budget may be tweaked further as more talks between political parties will try to overcome differences over a contentious plan to raise value-added tax, the country's finance minister told Reuters.

Explore how South Africa's proposed 16% VAT rate stacks up against global standards and what it means for consumers.

This is the view of analysts after Finance Minister Enoch Godongwana's budget drew a backlash from various quarters, including a key partner in the coalition government rejecting his proposals for a second time.