SA’s economic woes put Godongwana’s mini-budget to the test

Finance Minister Enoch Godongwana is presenting South Africa’s Medium-Term Budget Policy Statement in Parliament amid weak growth, high public debt and a rising cost of living. President Cyril Ramaphosa is expected to attend as the Treasury sets out its economic assessment and revenue and spending plans for the next three years. Siseko Maposa of Surgetower Associates Management Consultancy estimates public debt at 77.5% to 78.5% of GDP and warns that deep structural problems can no longer be hidden behind optimistic promises. Transport and logistics disruptions, along with global energy shocks pushing up fuel prices, are adding pressure on households.