National Treasury Commits to Staying the Fiscal Course, Introducing a New Inflation Target Amid Global Uncertainty

SOUTH AFRICA - Report 13 Nov 2025 by Iraj Abedian

Delivering this year’s Medium-Term Budget Policy Statement (MTBPS), Finance Minister Enoch Godongwana noted that South Africa, like many other nations, is navigating a period of intensifying global competition and deepening economic and political divisions. The MTBPS, tabled annually during either end of October or early to mid-November by the Minister of Finance, presents government’s fiscal priorities over the next three years (medium term), and also offers an update on government finances since the main Budget (presented in February), given the economic milieu.

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