South Africa’s Government of National Unity Sets Economic Revival Goals in Medium-Term Budget

• Finance Minister unveils budget focus on infrastructure, energy, and debt reduction
• Mixed reactions from business and labour on growth projections and policy approach

Johannesburg, South Africa – South Africa’s five-month-old Government of National Unity has brought renewed optimism to the economy, Finance Minister Enoch Godongwana said today in his Medium-Term Budget Policy Statement delivered in Cape Town. “The formation of the government of national unity in June, combined with the suspension of power cuts since March 2024, a leap in business and consumer confidence, and the receding of inflation in recent months, have raised all hopes,” Godongwana stated.