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SOUTH AFRICA: Finance Minister To Brief Lawmakers On 2025 Budget

SOUTH AFRICA
EM BulletBulletEmerging Market News
  • Finance Minister Enoch Godongwana will brief lawmakers on the 2025 National Budget at 08:00GMT/10:00SAST. The African National Congress (ANC) is preparing for an uphill battle to find enough votes for the spending plan. TimesLIVE reported that senior figures in the Democratic Alliance (DA) believe that the ANC's actions "pushed the price higher" while the Economic Freedom Fighters (EFF) gave no indication of willingness to enter negotiations. Meanwhile, ANC Secretary General Fikile Mbalula said that contentious legislation already signed into law (e.g. BELA or NHI bills) but opposed by the DA will not be part of any budget deal. This comes as BusinessDay reported that in the weeks leading to the Budget Speech, the DA demanded amending the Expropriation Act and the National Health Insurance Act in exchange for its support for the spending plan.
  • The South African Development Community (SADC) announced that peacekeepers from South Africa, Malawi and Tanzania will withdraw from the eastern part of the Democratic Republic of the Congo. Earlier this year, 16 South African soldiers were killed in the conflict, which drew public attention to their precarious position.
  • The National Treasury will sell 1.875% 2033 linkers and 5.125% 2058 linkers today.
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  • Finance Minister Enoch Godongwana will brief lawmakers on the 2025 National Budget at 08:00GMT/10:00SAST. The African National Congress (ANC) is preparing for an uphill battle to find enough votes for the spending plan. TimesLIVE reported that senior figures in the Democratic Alliance (DA) believe that the ANC's actions "pushed the price higher" while the Economic Freedom Fighters (EFF) gave no indication of willingness to enter negotiations. Meanwhile, ANC Secretary General Fikile Mbalula said that contentious legislation already signed into law (e.g. BELA or NHI bills) but opposed by the DA will not be part of any budget deal. This comes as BusinessDay reported that in the weeks leading to the Budget Speech, the DA demanded amending the Expropriation Act and the National Health Insurance Act in exchange for its support for the spending plan.
  • The South African Development Community (SADC) announced that peacekeepers from South Africa, Malawi and Tanzania will withdraw from the eastern part of the Democratic Republic of the Congo. Earlier this year, 16 South African soldiers were killed in the conflict, which drew public attention to their precarious position.
  • The National Treasury will sell 1.875% 2033 linkers and 5.125% 2058 linkers today.