Treasury expects GDP to grow by 1.9% in 2025

Minister Enoch Godongwana delivers the budget speech in the National Assembly. 2 minutes National Treasury expects the country’s economy to grow by 1.9% in 2025 and to average 1.8% over the next three years. Finance Minister Enoch Godongwana revealed this while tabling the National Budget in Parliament. The government says it expects a growth recovery…

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Godongwana optimistic rising debt will be curbed

Finance Minister Enoch Godongwana delivering the Budget Speech 2 minutes Finance Minister Enoch Godongwana has reaffirmed government’s determination to ensure sustainable public finances puts South Africa in a stronger position to withstand unforeseen shocks like COVID-19, while creating an environment conducive to higher investment and faster economic growth. The country’s debt remains stubbornly high, the…

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Barcelona dispatch Benfica 3-1 to reach Champions League quarters

FC Barcelona’s Raphinha celebrates scoring their third goal with Lamine Yamal. 3 minutes Raphinha scored twice and Lamine Yamal netted with a stunning strike in a rampant first half as Barcelona dismantled Benfica 3-1 in their Champions League last-16 second leg on Tuesday, advancing to the quarter-finals with a 4-1 aggregate victory. Barca will meet…

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VAT increases to 15.5% in 2025/26 and to 16% in 2026/27

Tax-related material on a desk 2 minutes In efforts to broaden government’s strategy to secure additional funding for several frontline functions, Finance Minister Enoch Godongwana on Wednesday increased the value-added tax (VAT) rate by 0.5 percentage points in each of the next two years to 16 percent in 2026/27. In response to the tax increase,…

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Government spending expected to reach R2.4 trillion this year

2 minutes Government spending is expected to reach R2.4 trillion this year, growing at a rate of 5.6% over the next three years. Additional spending requirements came from an extension to the Social Relief of Distress Grant to March next year, above inflation public service wage increases, frontline services, social grants increase and infrastructure among…

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