In an unprecedented move, South Africa’s Cabinet has postponed the tabling of the 2025 Budget Speech, originally scheduled for February 19, to March 12, 2025. The decision has sparked widespread criticism from opposition parties, who accuse the government of incoherent governance, internal divisions, and a failure to prioritize the needs of the nation.
Finance Minister Enoch Godongwana was set to outline the government’s financial, economic, and social commitments in the National Assembly on Wednesday. However, Cabinet cited the need for further deliberations to ensure the budget strikes a balance between public interests, economic growth, and fiscal sustainability.
“The annual budget is tabled by the Minister of Finance but requires the deliberation of Cabinet before it is presented in the National Assembly,” Godongwana said during a media briefing. “Cabinet is united in the view that the budget must address the pressing needs of the public while ensuring economic stability.”
The postponement, however, has drawn sharp rebukes from opposition parties, who argue that the delay undermines parliamentary processes and reflects a lack of strategic foresight. The African Transformation Movement (ATM) condemned the move, calling it a “glaring indication of incoherent governance” and a failure to responsibly manage the nation’s resources.
“Without a timely budget, there is significantly less opportunity for thorough scrutiny, which is essential to ensure that our financial plans are sound and fit for purpose,” said ATM National Spokesperson Zama Ntshona. The party also opposed any potential tax increases, urging the government to curb illicit financial flows and address tax evasion by foreign entities operating in South Africa.
The uMkhonto weSizwe Party (MK Party) went further, accusing the Democratic Alliance (DA)-led coalition government of deepening fractures within the ruling alliance. The MK Party described the postponement as proof that President Cyril Ramaphosa and the African National Congress (ANC) are “not in control” and are merely puppets of the DA and white capitalist interests.
“This reckless decision has cost the country millions, contributing to fruitless and wasteful expenditure,” the MK Party said in a statement. The party has called for an investigative audit by the Auditor-General and vowed to explore legal avenues to hold those responsible accountable.
The Economic Freedom Fighters (EFF) also rejected the postponement, labeling it a “disgraceful and shameful” attempt by the government to mask its internal contradictions and failure to provide economic leadership. The EFF criticized the proposed increase in Value-Added Tax (VAT) from 15% to 17%, calling it an attack on the poor and working class.
“The GNU is collapsing under its own contradictions,” the EFF said. “This postponement is a glaring indictment of its incapacity to govern and its complete disregard for the poor.”
The budget delay comes at a critical time for South Africa, with unemployment at 12 million and 23 million people living in poverty. The postponement has also raised concerns about its impact on investor confidence, as reflected in the decline of the rand following the announcement.
As the government prepares to table the revised budget on March 12, opposition parties and civil society groups are mobilizing to reject what they describe as austerity measures and neoliberal policies that disproportionately affect the poor. The EFF has called for mass protests, while the MK Party has proposed alternative revenue-raising measures, including a wealth tax and increased corporate taxes.
The postponement of the 2025 Budget Speech has not only exposed deep divisions within South Africa’s ruling coalition but also raised questions about the government’s ability to navigate the country’s economic challenges. With the new budget now weeks away, the nation waits to see whether the government can deliver a plan that addresses the pressing needs of its people while restoring confidence in its leadership.