Finance Minister Enoch Godongwana may get to keep his job a little longer as President Cyril Ramaphosa backs the head of financial policy.
Godongwana is facing harsh scrutiny after two failed attempts at tabling the 2025 budget, which included proposals for a VAT increase.
National Treasury has now gone back to the drawing board in a bid to balance the books, with Godongwana expected to reset the budget by 21 May.
Ramaphosa addressed the issue of the unprecedented budget impasse on the sidelines of COSATU's commemoration of Workers' Day in Mpumalanga on Thursday.
His job is to introduce money bills, nothing says they must be popular.
That's what Godongwana had to say this week about the budget pushback from civil society and some political parties.
With no plans to step down on his own accord, Godongwana left his future in the hands of Ramaphosa.
In no uncertain terms, Ramaphosa has now defended Godongwana, saying that the silver lining in the impasse was a more transparent budget process.
"This is something that we need to take on board and it doesn’t need to lead to a minister of finance resigning or stepping down, no. It should be on all of us to say: 'What are we learning from all of this?'"
Still facing less than desired revenue, runaway spending, expensive debt and now higher than usual political pressure, Godongwana is expected to begin fresh consultations on the budget soon.
ANC president Cyril Ramaphosa says there’s a silver lining in the unprecedented budget impasse - - as Treasury prepares to table it a 3rd time in as many months.
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Updated: 05 May 2025 Monday
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