The 2025 Budget Speech will be tabled on Wednesday, March 12 by Finance Minister Enoch Godongwana at 2pm with many South Africans waiting to find out what this year’s Budget will entail.

Casey Sprake, the Chief Economist at Anchor Capital has said that there are certain things all South Africans should be looking out for during this controversial budget.

She outlines her wish list for the 2025 Budget:

Stay away from the NPA funding

Sprake said that there should be no budget reduction for the National Prosecuting Authority (NPA) and encouraged Godongwana to allocate more money to the NPA and the Special Investigating Unit (SIU) to continue the fight against corruption and state capture at large.

Deficit-reduction is key

The economist noted that a continued demonstration of the government’s intention to follow a path of fiscal consolidation needs to continue and encouraged Godongwana to make those hard decisions rather than simple words. She also noted that he needs to showcase a credible plan that controls debt accumulation. Sprake said that debt levels need to come down rather than escalating at a slower pace.

The loss of USAID?

If Treasury assumes the financial responsibilities previously funded by USAID programmes, Godongwana must explain the potential fiscal impacts on South Africa, according to Sprake.

Make doing business in SA easier

Sprake said that there needs to be a demonstration in the Budget of additional measures that will be in place to improve the ease of doing business in SA.

Decrepit municipalities

Godongwana, according to Sprake, needs to also provide a detailed plan on how to address the financial distress of crumbling municipalities nationwide.

Will the SRD grant go to stay?

The Budget must provide clarity surrounding the future of the SRD grant. Sprake also wants to know if the grant will be formalised into a basic income grant and will the benefit level be raised.

Transparency on NHI and the fiscal rule framework

Lastly, Sprake called for more clarity around the funding structures of the latest bills that have been passed, namely the National Health Insurance (NHI) Bill and the Expropriation Bill. She also called on Godongwana to update the country on the long-awaited fiscal rule framework.

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