Pretoria: The Minister of Finance Enoch Godongwana and National Treasury are set to finalise the budget and table it before Parliament next week on Wednesday, 12 March 2025.

According to South African Government News Agency, a Cabinet statement issued by the Government Communication and Information System (GCIS) on Tuesday confirmed the conclusion of deliberations following a special meeting held by Cabinet on Monday. The meeting was convened to evaluate inputs by Cabinet members regarding options to fund the Budget of 2025/26 financial year and the medium term.

This development follows an earlier special Cabinet meeting on Monday, 24 February 2025, which facilitated discussions on the nation’s fiscal constraints and the urgency of implementing the three key priorities of the seventh administration under the Government of National Unity. During this meeting, President Cyril Ramaphosa appointed a team of Ministers, led by Deputy President Paul Mashatile, to collaborate with the Minister of Finance and the N
ational Treasury team to consolidate Cabinet inputs for further review.

The team led by the Deputy President, in collaboration with National Treasury, presented various options that were reviewed by Cabinet. In line with section 27 of the Public Finance Management Act (1 of 1999), Cabinet authorized the Minister of Finance to choose from the discussed options and fund the Budget in a manner that considers the fiscal constraints of the country, minimizes the impact on poor and middle-income households, and supports economic growth.

With Cabinet’s input process into the Budget concluded, the Minister of Finance and National Treasury are now set to finalise the budget and table it before Parliament on 12 March 2025. Last month, Cabinet postponed the tabling of the 2025 budget by Minister Godongwana for further deliberations.

The budget will outline all the financial, economic, and social commitments that the government plans to prioritize in its expenditure as part of the 2025 budget speech.