South Africa's government will have to cut expenditure substantially if the South African Revenue Service (SARS) does not meet its revenue target, Finance Minister Enoch Godongwana told Reuters on Thursday.

“Version three of the 2025 budget is more sensible and depicts a stark picture of South Africa’s finances,” said Jee-A van der Linde, senior economist at Oxford Economics. “Markets will welcome the Treasury’s commitment to fiscal consolidation.”

As a result from Wednesday, 4 June this year, the general fuel levy will increase by 16 cents per litre for petrol, and by 15 cents per litre for diesel.

South Africa doesn't have the funds to cover the over $430 million shortfall caused by the Trump administration's cuts in foreign aid, the country's finance minister said Wednesday. Finance Minister Enoch Godongwana spoke to Parliament while presenting an updated budget — one without the value-added tax increases that had sparked public outcry and fierce disagreement among parties in the ruling coalition.

South Africa's rand was steady on Thursday, as markets tried to digest U.S. President Donald Trump'sOval Office ambush of South African leader Cyril Ramaphosa, which overshadowed the country's budget presentation.

South Africa’s second-biggest political party the Democratic Alliance (DA) on Wednesday said it “cautiously supports” the new budget presented by Finance Minister Enoch Godongwana after rejecting two previous versions.

South Africa faces a $430 million shortfall due to U.S. aid cuts under the Trump administration, affecting its leading HIV treatment program. Finance Minister Enoch Godongwana highlighted the challenge while presenting a revised budget,

As South Africa braces for Finance Minister Enoch Godongwana’s third budget speech on Wednesday, a wave of expert opinions reveals a landscape marked by both cautious optimism and pronounced concerns. With rising economic pressures and a growing budget deficit, Godongwana faces the complex task of generating revenue without curbing growth.

The head of South Africa’s second-biggest political party said talks about the nation’s revamped budget are “are going very, very well,” a signal that the coalition government is resolving differences that derailed the National Treasury’s previous tax and spending proposals.

The education sector will receive a substantial R1.04 trillion over the next three years, cementing its position as a government priority.

If SMEs are the future of work and wealth in South Africa, then we need a budget that treats them as central to recovery, not peripheral to macroeconomic stability.'