MTBPS2025 in a Nutshell: A Turning Point for South Africa’s Finances
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SPECIAL BROADCAST GUESTS:
Sifiso Skenjana – Economist & Managing Director, ESG Analytics |
Enoch Godongwana – Minister of Finance |
Edward Kieswetter – SARS Commissioner |
John Steenhuisen – Minister of Agriculture |
Zuko Godlimpi – Deputy Minister of Trade, Industry & Competition |
Songezo Zibi – SCOPA Chairperson |
Miyelani Holeni – Group Chief Advisor, Ntiyiso Consulting Group
South Africa’s fiscal story just got a little brighter. In a surprisingly upbeat 2025 Mid-Term Budget Policy Statement, Finance Minister Enoch Godongwana signalled that the country’s long climb toward fiscal stability is finally paying off.
The deficit is narrowing faster than expected, debt is stabilising below 78% of GDP, and the primary balance is back in surplus for the first time in over a decade. Buoyed by higher tax revenues, lower borrowing costs, and renewed investor confidence, government is projecting a return to fiscal health by 2028, alongside a bold new 3% inflation target that could lock in lower interest rates for years to come.
In this special broadcast, Gugulethu Mfuphi brings together key policymakers and economic minds, from Finance Minister Enoch Godongwana to SARS Commissioner Edward Kieswetter, SCOPA Chair Songezo Zibi, and more to unpack what this new fiscal chapter means for growth, agriculture, trade, and the everyday South African.
From the numbers behind the optimism to the politics shaping policy discipline, our guests explore whether this is finally the inflection point for South Africa’s economy and what it will take to keep the momentum going.
Sifiso Skenjana – Economist & Managing Director, ESG Analytics |
Enoch Godongwana – Minister of Finance |
Edward Kieswetter – SARS Commissioner |
John Steenhuisen – Minister of Agriculture |
Zuko Godlimpi – Deputy Minister of Trade, Industry & Competition |
Songezo Zibi – SCOPA Chairperson |
Miyelani Holeni – Group Chief Advisor, Ntiyiso Consulting Group
South Africa’s fiscal story just got a little brighter. In a surprisingly upbeat 2025 Mid-Term Budget Policy Statement, Finance Minister Enoch Godongwana signalled that the country’s long climb toward fiscal stability is finally paying off.
The deficit is narrowing faster than expected, debt is stabilising below 78% of GDP, and the primary balance is back in surplus for the first time in over a decade. Buoyed by higher tax revenues, lower borrowing costs, and renewed investor confidence, government is projecting a return to fiscal health by 2028, alongside a bold new 3% inflation target that could lock in lower interest rates for years to come.
In this special broadcast, Gugulethu Mfuphi brings together key policymakers and economic minds, from Finance Minister Enoch Godongwana to SARS Commissioner Edward Kieswetter, SCOPA Chair Songezo Zibi, and more to unpack what this new fiscal chapter means for growth, agriculture, trade, and the everyday South African.
From the numbers behind the optimism to the politics shaping policy discipline, our guests explore whether this is finally the inflection point for South Africa’s economy and what it will take to keep the momentum going.
