Cabinet Finalizes Budget Preparations Ahead of Tabling in Parliament on 12 March 2025

According to a statement issued by the Government Communication and Information System (GCIS) on Tuesday, the finalization of the budget follows a special Cabinet meeting held on Monday.

The Minister of Finance, Enoch Godongwana, alongside the National Treasury, is in the final stages of preparing the 2025/26 national budget, which is set to be tabled before Parliament on Wednesday, 12 March 2025. This follows a rigorous process of consultations and deliberations within Cabinet to determine the most viable funding strategies amidst prevailing fiscal constraints.

According to a statement issued by the Government Communication and Information System (GCIS) on Tuesday, the finalization of the budget follows a special Cabinet meeting held on Monday. This meeting was convened to consider inputs from Cabinet members on the best possible funding options for the 2025/26 financial year and medium-term fiscal framework.

This process builds on a previous special Cabinet meeting held on 24 February 2025, which focused on discussions surrounding the country’s fiscal limitations and the urgency of implementing three key priorities of the seventh administration under the Government of National Unity.

At that meeting, President Cyril Ramaphosa appointed a ministerial team, led by Deputy President Paul Mashatile, to collaborate with Minister Godongwana and National Treasury. Their task was to refine Cabinet’s input and present feasible options for funding government expenditure. Following extensive deliberations, the team presented multiple funding options, which Cabinet considered before mandating the Minister of Finance to make the final selection.

In compliance with section 27 of the Public Finance Management Act (1 of 1999), Cabinet directed Minister Godongwana to adopt a funding approach that balances the country’s fiscal limitations while mitigating the impact on low- and middle-income households and fostering economic growth.

“With the conclusion of the Cabinet input process into the Budget, the Minister of Finance and National Treasury are now set to finalise the budget and table it before Parliament on the 12th of March 2025,” the statement confirmed.

This announcement follows last month’s postponement of the 2025 Budget Speech, which was delayed for further deliberations due to financial constraints and funding challenges.

The upcoming budget will outline the government's financial, economic, and social commitments for the fiscal year, detailing priority expenditures and economic strategies aimed at stabilizing the economy and fostering sustainable growth.