Duncan Pieterse

In his third prepared budget for the year, the minister said government debt would still stabilise this year but at 77.4% of GDP, higher than predicted in March

The president and the national treasury launched phase two of Operation Vulindlela on Wednesday, expanding its focus areas

Godongwana promises fiscal prudence in his new budget but the growth forecast may change

A hostile response signals the start of the treasury’s struggle to avoid amendments to the 2025 budget

The DA has upped the ante in its demands for consultation on every point of government policy, although ANC ministers also opposed a planned VAT increase

Commentators are cautiously positive about the treasury’s decision to use the Gold and Foreign Exchange Contingency Reserve Account

The 2024 budget is Duncan Pieterse’s first as director general. And he says the fiscal framework does not constitute a negotiating position

The budget points to state-owned entity bailouts as a key driver of South Africa’s increasingly constrained fiscal position

The decision follows pressure from civil society and labour — as well as warnings that the treasury risks leaving the Reserve Bank in a precarious position

Finance Minister Enoch Godongwana has emphasised the need to address supply-side constraints, such as the country’s energy and logistics crises

The treasury is looking to enforce strict conditions on the power utility, which is viewed as a major risk to the country’s economic outlook

The new director general played a key role in developing the Eskom Debt Relief Bill

But the department’s already reduced ranks may make it difficult to find someone with the technical know-how and clout to replace Dondo Mogajane