South Africa’s Budget Review to be re-tabled on 21 May 2025

Finance Minister Enoch Godongwana will re-table the 2025 Budget Review on May 21, 2025, following the withdrawal of the proposed 0.5% VAT increase. He cited public feedback and democratic debate as key factors in the decision. Godongwana pledged to balance the budget without raising VAT, safeguarding essential services. The revised strategy focuses on cost management, enhanced revenue collection through SARS, and fostering economic growth. He emphasized job creation and removing investment barriers, aiming for a sustainable fiscal path. The Minister reiterated his commitment to South Africans, promising a focused and collaborative approach.