South Africa’s Finance Minister Enoch Godongwana’s third attempt at delivering the 2025 Budget should have enough support in parliament now, but it’s come at the cost of a slightly larger budget deficit this year. The slippage relative to previous fiscal plans is small at this stage and the Treasury outlined plans to shore up its austerity efforts and reassure investors. But it seems plausible that tensions within the ruling coalition could rear their head again, leading to further slippage and a higher public debt trajectory.
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