The South African cabinet, led by Minister Enoch Godongwana, is finalizing the 2025 budget to be presented to Parliament on March 12, 2025. Following discussions about funding options due to fiscal constraints, the cabinet aims to mitigate impacts on low- and middle-income households while supporting economic growth. A team led by Deputy President Paul Mashatile has evaluated various strategies for budget consideration.
The Minister of Finance, Enoch Godongwana, alongside the National Treasury, is preparing to finalize and present the 2025 budget to Parliament on March 12, 2025. This follows a recent Cabinet meeting that aimed to explore funding options for the budget due to existing fiscal constraints. The discussion stemmed from a prior meeting on February 24, 2025, which addressed the urgency of implementing the seventh administration’s key priorities amidst these fiscal challenges.
During the February meeting, President Cyril Ramaphosa assembled a ministerial team led by Deputy President Paul Mashatile to support the Finance Minister in evaluating various fiscal strategies. The Deputy President’s team, supported by the National Treasury, proposed multiple options aimed at addressing the budgetary concerns while carefully weighing the nation’s economic situation.
Cabinet has mandated that the selected budget options should consider the country’s fiscal limitations and seek to minimize adverse effects on poor and middle-income families while fostering economic growth. “With the conclusion of the Cabinet input process into the Budget, the Minister of Finance and National Treasury are now set to finalize the budget and table it before Parliament on the 12th of March 2025,” stated the Cabinet.
The Cabinet’s recent meetings emphasize the critical focus on securing funding for South Africa’s 2025 budget in light of ongoing fiscal constraints. The collaboration between various ministers highlights a systematic approach aimed at protecting vulnerable households and promoting economic development. The finalized budget will be presented to Parliament shortly, outlining the government’s financial, economic, and social priorities.
Original Source: allafrica.com
