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Finance Minister to Deliver FY24/25 Budget Shortly (12:00GMT/14:00SAST)

SOUTH AFRICA
  • South African Finance Minister Enoch Godongwana will deliver the FY2024/25 budget in parliament at 12:00GMT/14:00SAST. The government seeks to maintain support for the vulnerable and ignite economic growth despite facing a very limited fiscal space and piling public debt.
  • The deterioration in South Africa’s fiscal position coincides with political election-year pressures, with the ruling African National Congress (ANC) on the cusp of losing its sole majority in parliament.
  • Against this backdrop, the market expects Godongwana to acknowledge notable fiscal slippage relative to the targets outlined in his November MTBPS amid weaker mining tax receipts.

A livestream to the speech will be available found here.

See our preview of the event, with sell-side analyst views, here.

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