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SOUTH AFRICA: Leaked Documents Reveal State Plans Following Budget Postponement

SOUTH AFRICA
EM BulletBulletEmerging Market News

Some of the key proposals of the postponed 2025 budget have been leaked online and reported on by local press. The National Treasury has acknowledged that the budget documents have been made available to journalists and economists, and stress that until the final documents are tabled on March 12, all proposals and information contained in the documents are subject to change. Nevertheless, below are some of the key proposals (via BusinessTech newspaper):

  • Part of the planned announcements included a change in South Africa’s income tax brackets. would have provided relief to lower-income earners, and partial relief to higher-income earners in 2025.
  • The government had plans to hike the excise duty on sin taxes above inflation. Duties on alcohol and tobacco would have been hiked by 6.83%.
  • Godongwana would have also announced fuel levy relief for another year, saving consumers around ZAR 4bln.
  • With Eskom in a better position compared to when the R254 billion debt relief was originally announced in 2023, the National Treasury would have announced a simplified final phase of the relief package.
  • It would have seen an additional R23.3 billion allocated to social grants
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Some of the key proposals of the postponed 2025 budget have been leaked online and reported on by local press. The National Treasury has acknowledged that the budget documents have been made available to journalists and economists, and stress that until the final documents are tabled on March 12, all proposals and information contained in the documents are subject to change. Nevertheless, below are some of the key proposals (via BusinessTech newspaper):

  • Part of the planned announcements included a change in South Africa’s income tax brackets. would have provided relief to lower-income earners, and partial relief to higher-income earners in 2025.
  • The government had plans to hike the excise duty on sin taxes above inflation. Duties on alcohol and tobacco would have been hiked by 6.83%.
  • Godongwana would have also announced fuel levy relief for another year, saving consumers around ZAR 4bln.
  • With Eskom in a better position compared to when the R254 billion debt relief was originally announced in 2023, the National Treasury would have announced a simplified final phase of the relief package.
  • It would have seen an additional R23.3 billion allocated to social grants