Budget: South Africa's plan to stabilise debt, boost growth, invest in infrastructure, and fund services through prudent fiscal policies.

Minister of Finance, Enoch Godongwana, is expected to deliver the 2025 Budget Speech in Parliament today. The Budget Speech seeks to strike a balance between fostering economic growth and providing support for the most vulnerable in society, even with constrained resources.

The Minister of Finance, Dr Cassiel Ato Forson, presented the first Budget and Economic Policy of the John Dramani Mahama administration in Parliament on Tuesday, March 11, 2025.

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.

The Finance Minister, Dr Cassiel Ato Forson, has announced the cancellation of the COVID-19 tax, a levy introduced in 2020 to help fund the country's response to the pandemic, the betting tax, the controversial E-Levy (Electronic Transaction Levy) and some few taxes.

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.

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.

Former Finance Minister Mohammed Amin Adam has refuted claims that his administration implemented the controversial betting tax, stating that it was never enforced under his tenure.

South Africa's finance minister unveiled Wednesday a budget with a smaller increase in value-added tax than previously proposed, but the move was still rejected by trade unions who say any rise in taxes that will have a negative impact on the country’s poorest is unacceptable.