Malema slams 2026 budget, questions growth strategy

Minister Enoch Godongwana delivers the budget speech in Parliament.

Economic Freedom Fighters (EFF) leader Julius Malema has criticised the 2026 national budget tabled by Finance Minister Enoch Godongwana, saying that it lacks a clear strategy for economic growth.

During his speech, Godongwana highlighted that the economy is expected to grow by 1.6% this year, an improvement from the 1.4% estimated last year.

Despite this, Malema says he is worried about plans to grow the economy.

“He tried to balance the speech for simple reasons that it’s an election year. So, he wanted to come across as being reasonable, especially with the working class. But the reality of the matter is that the economy is not growing, and we all know that without the economy growing, we’ll not be able to provide jobs, we won’t grow the infrastructure. Even if SARS collects more revenue, it doesn’t mean more economic growth. So, we are worried that there is no plan about how the economy is going to be increased in the country.”

VIDEO | Malema has also raised concerns about budget allocation for labour inspectors:

https://www.youtube.com/watch?v=U8kFG2GN7Hg

Finance Minister Enoch Godongwana delivers the #BudgetSpeech2026. pic.twitter.com/EZjo91rNFe

— SABC News (@SABCNews) February 25, 2026

Finance Minister Enoch Godongwana delivers the #BudgetSpeech2026. pic.twitter.com/XYsQrWniA8

— SABC News (@SABCNews) February 25, 2026

Meanwhile, the African Congress for Transformation (ACT) says it believes South Africa requires an expansionary developmental budgeting, permanent basic income support for the unemployed, aggressive localisation and black industrial capital formation.

The party says the 2026 budget speech continues the trajectory of 2025, tightening fiscal consolidation.

ACT spokesperson Mohau Khumalo says the budget is not radical, not transformative and it is fiscally orthodox, investor sensitive and socially restrained.

The ACT calls upon progressive forces, labour formations, civic movements and black business committed to genuine transformation to reject what they say is market-driven fiscal framework and unite behind a developmental, people-centred alternative.