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‘We Cannot Have a Third Budget Failure’ — Economist Warns as Godongwana Faces GNU Showdown
- At 14:00 today, Enoch Godongwana is scheduled to deliver the Budget speech in Parliament, marking his third attempt to table the fiscal plan following two previous unsuccessful efforts.
- Previous delays resulted from a legal challenge blocking the first attempt and coalition disputes over a proposed 0.5% VAT increase that was later withdrawn.
- Godongwana must close a R75 billion fiscal gap while balancing spending cuts, protecting essential services, and maintaining investor confidence amid fiscal pressures.
- The IMF projects debt could rise to 88.7% of GDP by 2030, exceeding the Treasury’s 76.2% forecast, illustrating the urgency to stabilise public borrowing.
- Budget 3.0 will test South Africa’s political stability and economic planning, with stakeholders closely monitoring for credible reforms supporting growth and social priorities.
11 Articles
11 Articles
Highlights of South African Finance Minister’s Reworked Budget
Below are the highlights of South Africa’s third iteration of the 2025 budget announced by Finance Minister Enoch Godongwana in Cape Town on Wednesday, after two previous versions were withdrawn because of disagreements within the governing coalition over taxes.
Budget 3.0 – Godongwana’s last shot – The Mail & Guardian
With VAT increases off the table, Finance Minister Enoch Godongwana must find a new path to making up the budget shortfall while staying true to the treasury’s vow to stabilise the country’s debt. Godongwana is set to return to parliament on Wednesday to present a revised budget, the third attempt since the first one in February, and the second tabled in March. Both ended in failure over the controversial VAT increase, with the Democratic Allian…
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