CAPE TOWN - Finance Minister Enoch Godongwana has tabled the Medium-Term Budget Policy Statement.
Cosatu says the budget focused too much on debt deficit.
In his address, Godongwana announced South Africa’s government debt would stabilise in 2025/26 at 77.9 percent of the Gross Domestic Product (GDP).
READ| SA debt set to stabilise for the first time since 2008
This marks the first time since the 2008 financial crisis that public debt is expected not to grow as a percentage of the GDP.
Additionally, real GDP growth of 1.25 percent is expected for 2025, more than double the economic growth in 2024.
The Minister also said part of their commitment is to support low-income and vulnerable households through education, health, and social protection.