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Key FactsGodongwana Projects Positive Budget Outlook for South Africa
Nov 13, 2025 · Reading time: ~45 sec.
Summary created with AI assistance · Source: mg.co.za
  • Finance Minister Godongwana expects revenue to exceed projections by R19.7 billion in 2025.

  • The inflation target has been lowered to 3% with a 1% tolerance band, set to be implemented over two years.

  • Government debt is predicted to stabilize at 77.9% of GDP, with a primary budget surplus of R68.5 billion this year.

  • Illicit trade in cigarettes and alcohol is identified as a significant threat to the economy.
  • As we table this policy statement, we have reason to be optimistic about the future of our country.
    — Finance Minister Enoch Godongwana, while presenting his medium-term budget policy statement in Parliament.
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Key FactsWATCH | Finance Minister Enoch Godongwana Delivers Budget Speech for 2023
Apr 10, 2023 · Reading time: ~20 sec.
Summary created with AI assistance
  • President Cyril Ramaphosa announced government plans to address the energy crisis and prevailing socioeconomic challenges in his state of the nation address on February 9.

  • Godongwana will detail the spending and revenue collection proposals needed to carry out these plans.

  • He is also expected to present the Appropriation Bill and the Revenue Division Bill to parliament.