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.

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.

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.