Enoch Godongwana will also introduce the Appropriation Bill and table the 2026 Division of Revenue Bill, which parliament will consider in the coming months.

Experts said they expect the treasury to emphasise fiscal consolidation, outline plans to stabilise debt, and maintain credibility with rating agencies when the minister tables the budget.

Economists said this national budget will reveal the extent to which the government can realistically fund President Cyril Ramaphosa’s commitments without destabilising debt levels.

“I think we are likely to see a cautious budget speech rather than a bold one,” said UFS economics and finance department head Prof Johan Coetzee. “So do not expect fireworks.

“Treasury will almost certainly emphasise fiscal consolidation. We will probably hear about stabilising debt, protecting the primary surplus, and, most probably, maintaining credibility with ratings agencies, amongst others.”

The deeper issue is undeniably economic growth. Without sustained GDP expansion and debt stabilisation, limited structural reform will postpone pressure on the South African economy, he said.

The tourism and hospitality industry called for a decisive shift in government spending, warning that one of the country’s fastest and most cost-effective job creators remains underfunded and underleveraged.

‘The sector continues to receive a disproportionately small share’

Tourism contributes close to 9% of South Africa’s GDP when direct and indirect impacts are combined, with the sector accounting for 11.3% of all jobs in the country, said ANEW Hotels and Resorts talent and commercial director Alan Campbell.

“Yet despite its scale and speed of impact, the sector continues to receive a disproportionately small share of strategic investment.”

Free State Destea and finance MEC Ketso Makume said he was optimistic about the minister of finance’s budget speech. He believes the country’s financial situation is showing signs of improvement.

However, he acknowledged South Africa must make the most of the financial resources it already has.

“I’m optimistic that things are improving. And the budget is also promising. However, we must be aware that there won’t be any new money.

“We need to do the best with the little that we are going to be given. We need to ensure that whatever little the National Treasury is going to give us, we make it impactful.”

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OFM News/Zenande Mpame