Johannesburg, 19 February 2025 ― The Minister of Finance’s decision to postpone the tabling of the 2025 Budget is a significant concern for South Africans, the business community, and the markets. This delay sends a negative message about the Government of National Unity’s ability to collaborate effectively for the country’s benefit and fulfil its crucial role in determining how national resources will be allocated.
Furthermore, this uncertainty is something we can ill afford. “It should have been apparent much earlier that the parties in the GNU were struggling to reach an agreement on the budget, and the postponement should have been announced sooner to avoid compromising the credibility of the National Treasury,” said Khulekani Mathe, CEO of Business Unity South Africa (BUSA).
That said, as this is the first budget under the GNU, it was expected that the compilation and adoption processes would differ from those of the past.
“We urge all parties to prioritise the country’s needs over political interests and to use the additional time now available to Cabinet to develop a budget that focuses spending on programmes that promote economic growth. This is the only sustainable way to achieve a balanced budget without undermining our social spending programmes or harming the economy,” Mathe concluded.
End.
Khulekani Mathe
Chief Executive Officer
For media inquiries, please contact:
Sizwe Maswanganye
BUSA Communications Coordinator
Tel: 011 784 8000/0766516444
