South Africa's Finance Minister, Enoch Godongwana, will present the revised Budget Speech 2025 at 14:00 tomorrow.
Budget Speech 2025: Three key areas to keep an eye onMinister of Finance Enoch Godongwana is getting ready to present his revised Budget Speech 2025 on Wednesday, 12 March. Image: Flickr– a crucial moment as the government grapples with the tricky task of increasing spending while keeping debt under control.
key areas of focus will include the increase in new spending, proposed tax hikes to fund this spending, and the implications for economic growth.due to a proposed 2 percentage points increase in VAT aimed at financing an increase in non-interest spending. , and debt servicing costs are eating into tax revenue.
The revised Budget Speech 2025 aims to balance increased spending with proposed tax hikes, particularly a VAT increase. This could stabilise debt levels and maintain a primary budget surplus.
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