Minister of Finance, Enoch Godongwana, is expected to deliver the 2025 Budget Speech in Parliament today.
The Budget Speech seeks to strike a balance between fostering economic growth and providing support for the most vulnerable in society, even with constrained resources.
Additionally, the Minister will present the Appropriation Bill and submit the 2025 Division of Revenue Bill, both of which Parliament will review and process in the coming months.
“Minister Godongwana will also introduce the Appropriation Bill and table the 2025 Division of Revenue Bill, which Parliament is expected to process in the following months. During the Budget Speech, the Finance Minister indicates the allocation of financial resources to the national government’s priorities outlined by President Cyril Ramaphosa in the State of the Nation Address.
“Mr Godongwana will outline all the financial, economic and social commitments the government will prioritise in its planned expenditure. He will provide a detailed plan for 2025 spending, including proposals for revenue collection to help fund the government’s planned interventions and commitments,” Parliament said in a statement.
The speech was initially scheduled for 19 February but was postponed to allow Cabinet to further deliberate on the best possible ways to fund the budget.
In a weekly newsletter, President Ramaphosa acknowledged the concerns raised following the postponement,
“The last-minute postponement was unfortunate. It gave rise to concern and uncertainty among South Africans, investors and the financial markets, who look to the budget for important signals about the state and direction of our economy.
“Decisions on how to spend public funds have implications for every South African. It is therefore essential that the concerns raised by different parties around the budget are properly addressed, in the interests of accountability, transparency and consensus-building,” the President said.
Members of the public are encouraged to follow the proceedings on Parliament TV (DSTV Channel 408), through a live stream on Parliament’s website, Parliament’s YouTube channel, and X page on following links:
- X (Twitter): https://twitter.com/ParliamentofRSA
- Facebook: https://facebook.com/ParliamentofRSA
- YouTube: https://www.youtube.com/ParliamentofRSA
A day after the Minister delivers the speech, the Deputy Director-General of the National Treasury Budget Office, Edgar Sishi, with National Treasury officials, are expected to visit Athlone High School in Cape Town to engage learners on the 2025 National Budget.
“The aim of this outreach programme is to raise awareness and educate the learners about national budget information. It will also outline the budget process and encourage engagement.
“Public participation in the budget process is essential for promoting transparency and accountability in governance. In February each year, the Minister of Finance tables the National Budget, which outlines budget allocations for national and provincial departments.
“By engaging the public, particularly the youth, this initiative promotes inclusive development, fosters trust in resource allocation and ensures the budget information is accessible to broader members of society,” National Treasury said in a statement. – SAnews.gov.za
