LIVE | Here’s how to watch the 2026 Budget Speech

Finance Minister Enoch Godongwana will table the 2026 National Budget on Wednesday, 25 February at 14:00, setting out government’s spending plans and fiscal strategy for the year ahead.

Economists expect the minister to focus on balancing fiscal discipline with measures to support economic growth, amid sluggish expansion, high unemployment and ongoing pressure on public finances.

How to Watch

South Africans can follow the Budget Speech live via radio, television and online streaming platforms.

The main online channels include:

• Parliament of South Africa (Parliament TV)
• South African Broadcasting Corporation (SABC)

What to Expect

Analysts anticipate several key themes in this year’s Budget Speech:

1. Fiscal consolidation and debt management
Government is likely to reaffirm its commitment to stabilising debt levels, containing spending and narrowing the budget deficit. Investors will be watching closely for updated debt-to-GDP projections and plans to manage rising debt-servicing costs.

2. Economic growth and infrastructure
There may be renewed emphasis on infrastructure investment to stimulate growth and job creation. Structural reforms aimed at improving energy supply, logistics and transport networks are also expected to feature prominently.

3. Social spending and grants
With millions of South Africans reliant on social support, clarity is expected on social grant allocations, including whether temporary relief measures will be extended or adjusted.

4. Tax measures
While major tax hikes are not widely expected, adjustments to personal income tax brackets, sin taxes or fuel levies could be announced. Businesses will also look for signals on corporate tax stability and investment incentives.

5. Support for state-owned entities
Further details may emerge on financial support or reform plans for struggling state-owned companies, alongside efforts to limit additional bailouts.

The speech will be closely scrutinised by markets, ratings agencies and the public for signals on how government intends to navigate South Africa’s challenging economic landscape in the year ahead.