President Cyril Ramaphosa says South Africans can expect a markedly different national budget when Finance Minister Enoch Godongwana presents his revised fiscal framework to Parliament on 21 May.
Addressing the official launch of the second phase of Operation Vulindlela in Pretoria on Wednesday, Ramaphosa described the upcoming budget as forward-looking and heavily focused on infrastructure development.
“The Minister will deliver the budget at 3.0,” Ramaphosa remarked. “It’s a budget that is going to make us look forward. It’s a budget that’s going to commit a lot of money also to infrastructure.”
Ramaphosa revealed that, for the first time in many years, government is preparing to allocate up to a trillion rand for infrastructure investment over the medium term — a move he says will stimulate economic growth and ensure long-term fiscal sustainability.
“Growth is the only way to achieve fiscal sustainability and social progress in our country, and this budget will speak to that,” he added.
Finance Minister Godongwana, who recently reversed a controversial proposal to increase VAT by 0.5%, will be presenting his third national budget since taking office. His revised plan is expected to reflect shifts in fiscal priorities ahead of key political and economic milestones.
The President’s comments come as the country grapples with low growth, rising debt, and growing pressure to invest in service delivery and job creation. The budget speech is widely anticipated as a litmus test of government's commitment to rebuilding the economy.