As Finance Minister Enoch Godongwana prepares to unveil South Africa’s 2025-2026 budget, the nation anxiously awaits a plan for sustainable growth. With a stagnant economy and high debt service costs, the budget faces significant challenges. This article explores key priorities for the upcoming budget, including debt reduction, infrastructure development, energy diversification, and youth upskilling.
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Every February South Africans eagerly wait for a financial miracle with a R2 trillion budget in a country that is
The rest of the budget was divided between public safety with R201 billion , housing with R80 billion , defence with R55 billion , arts and culture with R45 billion and environmental protection was allocated R15 billion . The recent #Paythegrant court judgment ordering the government to pay the Covid-19 social distress relief grants for more than 18.4 million beneficiaries will surely limit how much funds are available to stimulate the economy.
The 2024 budget decision to increase the limit for renewable energy projects from 15 megawatts to 30 megawatts is a step in the right direction. The R964 million previously reprioritised for the transition to electric vehicles and the 150% tax rebate for electric vehicle manufacturers is a good start, but more funding is needed to support this sector and encourage motorists to go electric.
This trend affects South Africa’s ability to produce the engineers and scientists needed to build a modern economy. While 92 million traditional roles may be displaced, 170 million new positions are expected to emerge, particularly in technology-driven fields such as AI specialists, software developers and data scientists.
BUDGET SOUTH AFRICA ECONOMIC GROWTH INFRASTRUCTURE ENERGY YOUTH SKILL DEVELOPMENT
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