Parliament has revealed all you need to know about today’s 2025 Budget Speech. According to a release on the official South African Parliament website, the 2025 Budget Speech will take place today (Wednesday 19 February 2025) at 14h00.  The Minister of Finance, Enoch Godongwana, will deliver the 2025 Budget Speech before the National Assembly (NA) at the Nieuwmeester Dome (due to the temporary closure of the parliament building) and the nation will be able to watch it live on the South African Parliament YouTube channel.
2025 BUDGET SPEECH
However, following President Cyril Ramaphosa’s 2025 State of the Nation Address (SONA), how will the 2025 Budget Speech align? Experts speculate that 2025’s budget allocation will follow the priorities outlined at SONA two-weeks ago. In his address, the President detailed the national government’s plans to address the country’s unemployment crisis and other socio-economic challenges like over-reliance on SASSA grants. Â
Furthermore, the 2025 Budget Speech will aim to balance economic growth with support for vulnerable communities, despite limited resources. As a result, during his address, Minister Godongwana will outline detailed financial, economic, and social expenditure priorities for the coming year. Likewise, he will also propose revenue collection measures to fund these interventions. Plus, the minister will also introduce the Appropriation Bill and table the Division of Revenue Bill. These will then be processed by parliament in the coming months.
WHAT TO EXPECT
SASSA grant increases for 2025 will be a huge topic. More so because of the recent landmark ruling regarding ‘unlawful’ SRD exclusions. If upheld by the department and National Treasury, the social welfare portion of the budget could swell by as much as R36 billion. One way around this may be to finally switch SRD to a Basic Income Grant (BIG). This is something the likes of President Ramaphosa have been championing for years under the auspices of ‘pro-poor’ ANC policies.
However, Small and Medium Enterprises (SMEs) will be keenly watching the 2025 Budget Speech for signals on the country’s economic growth. In light of looming American sanctions, companies are looking closely at any potential policy shifts, changes in spending priorities and non-US trading partners. The economic implications of the 2025 Budget Speech will provide a comprehensive preview of South Africa’s fiscal year ahead.
Catch it live HEREÂ at 14h00 today (Wednesday 19 February 2025).
WHAT WOULD YOU LIKE TO SEE EMERGE FROM THE MINISTER’S BUDGET SPEECH?
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