ARTICLE · 19 MARCH 2025

Budget 2025 Snapshot: Quick Look At Key Points

Andersen in South Africa

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The 2025 Budget Speech introduces a range of measures that will impact individuals, businesses, particularly small and medium-sized enterprises (SMEs), providing both challenges and opportunities.

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Thabiso Montsho

Nicky Combrinck

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The 2025 Budget Speech introduces a range of measures that will impact individuals, businesses, particularly small and medium-sized enterprises (SMEs), providing both challenges and opportunities. Below are the key provisions and their economic implications:

Economic Outlook: Real economic growth is forecast to increase to 1.9% in 2025, and is projected to average 1.8% from 2025 to 2027. This growth is supported by improved investor confidence, stable electricity supply, lower interest rates, and a declining risk premium. The continued implementation of structural reforms is essential to accelerate growth.
Budget Framework: The fiscal strategy blends critical spending measures with revenue increases. The consolidated budget deficit is expected to narrow from 5% of GDP in 2024/25 to 3.5% of GDP in 2027/28. Government will reach the important milestone to stabilise debt next year through the strengthening primary surplus.

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