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Budget 2025: Godongwana warns of possible reductions amidst deteriorating fiscus
Finance Minister Enoch Godongwana presents a transformative 2025 Budget featuring gradual VAT increases and significant expenditure adjustments to address South Africa's R5. 69 trillion debt burden. The comprehensive plan includes R232. 6 billion allocation over the medium term, targeting sustainable growth and economic stability.
SONA Debate | Cogta Minister Hlabisa vows GNU will deliver on SONA commitments
Cogta Minister Velenkosini Hlabisa assured President Cyril Ramaphosa that the Government of National Unity (GNU) will fulfil his SONA commitments so that the promises can become reality.
Government adopts the Adjustments Appropriation Bill to help fund 2025
This Bill aims to provide for the adjustment of appropriations from the National Revenue Fund to cater to the state's financial needs for the 2024/2025 fiscal period.
Government’s bold stance on public sector wages sparks optimism
‘The Minister of Finance is faced with an unenviable challenge: balancing the unaffordability of these increases with the risk of a strike. ’
SA could be poised for a ratings upgrade by Fitch
Last week, Finance Minister Enoch Godongwana warned that South Africa’s debt has risen too fast and too high - currently R5. 2 trillion, and the country has to manage its debt more effectively.
Cosatu fears brain drain as early retirement plan mooted for 30 000 government workers
Cosatu said the public sector is not bloated - in 1994 there was 1 million public servants for 34 million citizens compared to the current 1. 2 million workers to cater for 64 million citizens
Workers expected and deserved more from Medium Term Budget Policy Statement
Cosatu and workers had expected much more from the Medium-Term Budget Policy Statement tabled at Parliament on Wednesday.
Editor’s Note: Godongwana’s spending proposals have missed the mark
Quinton Mtyala writes that the 2024 Medium Term Budget Policy Statement, presented last Wednesday, underscores South Africa’s precarious fiscal position.
Cosatu calls for increased fiscal support for SOEs
Cosatu demands enhanced fiscal support for state-owned enterprises to combat South Africa's pressing issues of poverty, unemployment, and inequality, following the recent Medium-Term Budget Policy Statement.
The impact of education budget cuts on the right to education in SA
For a country like South Africa with a legacy of deep-rooted inequalities that haunt marginalised communities, education remains a powerful tool to achieve equality.
Finance Minister's mid-term budget shows promise despite challenges
South Africa's 2024 Medium Budget Policy Statement reveals promising steps towards economic recovery, with experts highlighting positive developments in infrastructure investment and job creation, despite ongoing debt challenges.
MTBPS: Godongwana’s Medium-Term Budget Policy Statement spells disaster for South Africa’s struggling economy
This is the time for progressive forces to come together and fight against a privatisation agenda that seeks to place state-owned entities in direct competition with a private sector that is solely interested in profit, says the writer.
Much-needed Sapo bailout in the post
The Minister said the Department of Communications and Digital Technologies should rather reprioritise its budget to fund the SA Post Office.
GNU's first MTBPS: a pragmatic approach to South Africa's economic challenges
Finance Minister Enoch Godongwana's first MTBPS under the GNU presents a balanced approach to tackling South Africa's economic challenges, emphasising investment-led growth while maintaining fiscal discipline.
MTBPS: Now that the MTBPS is over, what happens next?
Finance Minister Enoch Godongwana has tabled Medium-Term Budget Policy Statement, here’s what South Africans should know about what happens next.
Godongwana’s mid-term review showed that SA is trying to stabilise debt issue - analyst
Government remains committed to achieving debt-stabilising primary budget surpluses.
Teacher posts not a crisis, says Godongwana
Education budget problems self-inflicted, says Godongwana.
MTBPS: Godongwana downplays NHI funding concerns, emphasises infrastructure upgrades
Major funding shifts are not expected in the 2025 medium-term expenditure framework period as the focus will be on developing systems and mechanisms that support this reform, as outlined in the NHI Act of 2023.
Insight: New era for GNU Budget Process: a test of democratic maturity
Several members of the media wanted to know how the budgeting process would work now that the Government of National Unity (GNU) contained ten parties, each with its own agenda.
SA's economic growth plans face reality check as GDP forecast falls
At the heart of South Africa’s economic aspirations lies Operation Vulindlela, a strategic initiative aimed at enhancing productivity and competitiveness.
R350 grant wont be extended beyond March 2025
The government is considering ways to reform social grants and consolidate public employment initiatives to cater for the unemployed.
MTBPS Red Flags: Debt-service costs a drag on economy
An increase in the remuneration of an already bloated Cabinet, lack of details around how the country will tackle corruption, and government debt, were some of the concerns raised.
Epic showdown looms over proposed early retirement for government workers
South Africa’s average spending on public-sector salaries is well above that of many countries, with the general government wage bill constituting 13. 6% of the GDP in 2022 - the third highest in the world after Iceland and Denmark, according to the OECD - while the general government employment was the seventh at 18. 6%.
First post-GNU Budget fails to excite the markets, rand declines on speech
That the minister acknowledged South Africa’s challenges but missed the opportunity to ignite confidence was echoed by the performance in the rand.
R11 billion allocated for early retirement for civil servants
“South Africa’s average spending on public sector salaries is well above that of many countries,” the MTBPS document noted.