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In his Medium-Term Budget Policy Statement (MTBPS) speech Finance Minister Enoch Godongwana detailed the promises kept over the past few years. The focus now is on how to grow the economy faster and attract the investment needed to create jobs and improve the life of all South Africans.“Two years ago, we committed to…

Cosatu has said proposed adjustments in the  Medium-Term Budget Policy Statement (MTBPS) are not bold enough to take the economy from the 1% growth it has been stuck at for two decades nor to give hope to 12 million unemployed.In reaction to the proposals by Finance Minister Enoch Godongwana, Cosatu…

The National Treasury has revised South Africa’s economic growth forecast for 2025 downward, citing weaker global and domestic conditions, but remains optimistic that ongoing structural reforms in energy and logistics will help the economy gain traction in the coming years.In its the Medium-Term Budget Policy Statement (MTBPS) tabled on Wednesday,…

Farming associations welcome the government's  focus on structural reform and to not raise sugar taxes at the Medium-Term Budget Policy Statement (MTBPS) which was presented by Finance Minister Enoch Gondongwana on Wednesday.Wandile Sihlobo, the chief economist at the Agricultural Business Chamber of South Africa (Agbiz), said  the stronger emphasis and…

The South African Reserve Bank (Sarb) Governor Lesetja Kganyago has defended the government’s decision to lower the inflation target, saying the move is aimed at protecting the value of money, enhancing consumer purchasing power, and improving fiscal efficiency.This comes as Finance Minister Enoch Godongwana on Wednesday officially reduced South Africa's…

Property group, economists and trade union have reacted positively to the Medium-Term Budget Policy Statement (MTBPS) delivered by Finance Minister Enoch Godongwana on Wednesday.Samuel Seeff, the chairman of the Seeff Property Group, said that the Medium-Term Budget Policy Statement (MTBPS) will provide some comfort to investors. “In particular, I welcome…

The government will launch a R15 billion infrastructure bond soon to help fund badly needed infrastructure projects, which, in turn, should provide a stimulus for faster economic growth and job creation in the economy.Finance Minister Enoch Godongwana said in the MTBPS that the government will also contribute R2bn to capitalise…

2025’s Medium–Term Budget Policy Statement (MTBPS) saw debt ratios slightly higher, similar ratios for the fiscal deficit and an upwards revision to revenue projections for two years vs. May, and a lowering of the inflation target. Revised gross revenue projections now show 2025/26 at R2.005 trillion, from the previous estimate…

KPMG South Africa’s Lead Economist, Frank Blackmore, said that Finance Minister Enoch Godongwana’s Medium-Term Budget Policy Statement addressed many of the expectations and challenges that had been raised prior to its release.“In my view, it addressed all the points that had come up before the budget. The focus was primarily…

The South African Revenue Service (Sars) has collected more tax revenue than projected by the National Treasury in the budget tabled in May 2025.According to the Medium-Term Budget Policy Statement (MTBPS) presented by Finance Minister Enoch Godongwana in the National Assembly, Sars collected just over R924 billion in the first…