MINISTER OF FINANCE POSTPONES THE 2025 BUDGET SPEECH

By Cuma Pantshwa

• The 2025 national Budget that was to be held on 19 February 2025 has been postponed to 12 March 2025.
• The decision comes after Cabinet Ministers were unable to reach an agreement on key aspects of the budget, requiring more time for engagement and deliberation.
• “Cabinet is united in the view that the budget must strike a balance between the interests of the public, economic growth and fiscal sustainability,” said Minister of Finance Enoch Godongwana.

The much-anticipated 2025 Budget Speech, initially scheduled for 19 February, has been postponed to 12 March 2025.

The decision comes after Cabinet Ministers were unable to reach an agreement on key aspects of the budget, requiring more time for engagement and deliberation.

At a media briefing following the announcement, the Minister in the Presidency, Khumbudzo Ntshavheni clarified that the reasons were not due to party politics but rather the need for Cabinet Ministers to agree on all matters and refine the budget.

“The differences were across all Cabinet ministers, who felt more time was needed to engage on all matters and reach consensus. We needed more time to agree on the budget,” she said.

Minister of Finance Enoch Godongwana, in his statement, reiterated that further deliberations were needed in order to deliver a responsible and effective budget. “Cabinet is united in the view that the budget must strike a balance between the interests of the public, economic growth and fiscal sustainability,” said the minister.

The postponement has sparked debate, with some expressing frustration over potential delays in government programmes and fruitless expenditure while others see it as an opportunity to ensure a more well-considered financial plan.

“We all share the same goal to ensure we fulfil our commitments and priorities. This additional time will allow us to refine the budget so that it best serves the needs of the country,” said Ntshavheni.