budgetlatest news & developments

Stability is not the destination. It is the foundation.

Fiscal discipline, reform momentum and the role of private capital South Africa’s 2026 Budget arrives at a moment defined by both volatility and cautious optimism. National Treasury has projected that the country’s debt to GDP ratio has reached its peak. A primary surplus has been restored and fiscal consolidation has held despite multiple external shocks […]

Set for presentation: Finance Minister Enoch Godongwana arriving at Parliament to deliver the budget. He is
flanked by South African Reserve Bank governor Lesetja Kganyago, left, and South African Revenue Service
commissioner Edward Kieswetter. Photo: GCIS

Budget: debt peaks but growth lags

The projected economic growth trajectory remains insufficient to address structural unemployment

Finance Minister Enoch Godongwana. Photo: Supplied by the  Government Communication and Information System (GCIS)

Economists split on whether 2026 budget marks a real turning point

The growth outlook is insufficient to alter unemployment dynamics, some argued

National treasury officials said the costing for the deployment of soldiers in crime-affected areas — as announced by President Cyril Ramaphosa,  his Sona, had not yet been done. (GCIS)

South Africa to earmark R1.58 trillion towards social services

National treasury officials said the costing for the deployment of soldiers in crime-affected areas — as announced by President Cyril Ramaphosa, his Sona, had not yet been done

Finance Minister Enoch Godongwana delivers the 2026 Budget Speech

South Africa’s economy to grow by 1.6% in 2026 from 1.4% last year

Over the next three years, growth is projected to average 1.8% and reach 2% by 2028

Finance Minister Enoch Godongwana. (GCIS)

IMF expects Godongwana to maintain budget surplus target of 1.5% of GDP

The global lender said controlling the public sector wage bill would be critical and commended the government’s plans to address inefficiencies and provide incentives for early retirement

Public sector wage bill 2023

Public sector wage bill must be contained – but not by DOGE methods

Pressure can be relieved in a number of ways such as cutting consultants and reducing staffing in non-core areas such as state-owned entities, as well as ministerial office staff

The government must ensure that investments in healthcare, education and social welfare do not suffer. Photo: Guillem Sartorio/AFP

Budget: Building economic resilience through three strategic interventions

Three actions — debt reduction, a youth solidarity tax and limiting increases in public-sector salaries — that could lead to sustainable prosperity

The government of national unity. Photo: @Presidency/ZA/X

SA must establish a clear separation of powers between the executive and parliament

Given the shaky coalition government, two sections in the Constitution appear to create a quandary regarding ministers actions in the cabinet

Finance Minister Enoch Godongwana. Photographer: Dwayne Senior/Bloomberg via Getty Images

Editorial: Budget 3.0 and another coalition court battle

It is high time for policy reckoning in the GNU

Finance Minister Enoch Godongwana. Photo: Dwayne Senior/Getty Images

There can be no repeat budget bungle

The saga reflected political sniping and the inability of parties in the government of national unity to cooperate

The Gold and Foreign Exchange Contingency Reserve Account is not a piggy bank that can be used to solve South Africa’s fiscal problems.

Budget: Why a VAT increase is the least bad option

The Gold and Foreign Exchange Contingency Reserve Account is not a piggy bank that can be used to solve South Africa’s fiscal problems.

Increasing value-added tax shifts the weight of systemic dysfunction to households already buckling under the pressure of inflation and economic exclusion. (Delwyn Verasamy, M&G)

Why South Africa’s VAT hike risks worsening poverty

Increasing value-added tax shifts the weight of systemic dysfunction to households already buckling under the pressure of inflation and economic exclusion.

Finance Minister Enoch Godongwana.

South Africa’s political parties are fighting the wrong budget battle

They need to stop squabbling about how much we tax or borrow and concentrate on how effectively we spend.

There has been nothing remarkable about the government of national unity’s first year in office, but the steadying of the ship has been invaluable. Photo: GCIS

Brinkmanship in GNU devastating for SA

The Trump factor, plus the ANC and the DA playing to the brink, has cost the country R1 trillion

ActionSA leader Herman Mashaba. (File photo)

Who is our opposition anyway?

South Africans have, in recent years, looked beyond the ANC in hope of finding new voices capable of holding the line on spending and corruption. Instead, what they have received is a bewildering capitulation and weak opposition

There has been nothing remarkable about the government of national unity’s first year in office, but the steadying of the ship has been invaluable. Photo: GCIS

ANC and DA divided on future of coalition

The ANC has bought itself time to decide whether to expel its constantly restive coalition partner

Up and away: Ellipse Waterfall, situated in Waterfall City, Midrand, was developed by the Tricolt Group. Photo: Supplied

Building confidence builds the economy

Real estate investment trusts are booming, reporting strong results for the interim period ending December

President Cyril Ramaphosa and DA leader John Steenhuisen. (GCIS)

Who benefits from the budget war?

This is a moment that calls for strong leaders and a united nation. Right now, we don’t have either

President Cyril Ramaphosa and DA leader John Steenhuisen. (GCIS)

ANC, Democratic Alliance fail to reach agreement on budget

The ANC has so far rejected conditions on which the DA would agree to support Finance Minister Enoch Godongwana’s 0.5 percentage point VAT increase for the coming fiscal year