Trump hosted the president of South Africa at the White House. What happened: Trump criticized Cyril Ramaphosa for his country’s treatment of Afrikaners, pushing genocide claims and playing a video he falsely said depicted burial sites for White farmers.

South Africa's finance minister says the country doesn’t have the funds to cover the over $430 million shortfall caused by the Trump administration’s cuts in foreign aid. Finance Minister

South Africa's National Treasury said on Wednesday that this fiscal year's budget deficit would be wider and public debt higher after it was forced to backtrack on a proposed increase in value-added tax (VAT).

“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 the months slip into May, the fiscal landscape continues to evolve, presenting both challenges and opportunities for the economy.

Mtambo CAPE TOWN (Reuters) -South Africa made only minor adjustments to its spending plans and deficit projections in a third budget presented on Wednesday that was overshadowed by a meeting between its president and U.

In the March version of the budget, Treasury projected that public debt would peak at 76.2% of gross domestic product in the 2025-26 fiscal year. The International Monetary Fund foresees South Africa’s debt-to-GDP ratio increasing to 88.7% by 2030.

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

South Africa’s National Treasury is considering raising additional borrowing in its latest rendition of the budget, to be delivered on Wednesday, to cover a revenue shortfall after a plan to increase taxes was scrapped.

While the reversal of the VAT hike provides relief to citizens facing mounting living costs, the introduction of fuel levy increases has raised concerns about the impact on household budgets amidst an already challenging economic landscape.