The rising cost of money
South Africa’s debt outlook is improving, according to the Medium-Term Budget Policy Statement. But what could higher borrowing costs globally mean for local households, businesses and the public purse?
#fiscalpolicy
Fiscal anchor will put government’s budget discipline into law
The draft legislation would require governments to set and report against their own fiscal objectives, with Parliament and the Financial and Fiscal Commission given stronger oversight roles.
Treasury moves to lock fiscal strategy into law
The proposed framework would require future administrations to set out fiscal plans consistent with sustainable public finances and a declining debt burden.
The rand’s long-term outlook may be changing
Improving domestic fundamentals, a potentially weaker US dollar, and lower inflation could mean the rand depreciates more slowly than investors have come to expect.
A better year ahead? The economic outlook starts to look promising
From the rand and commodities to electricity and logistics, several pieces of the South African investment story are moving in the right direction.
SARS exceeds R2 trillion as compliance, not commodities, drives revenue
Milestone caps Kieswetter’s tenure as a new commissioner prepares to take office from 1 May.
Fuel relief now, answers later as the government buys time on price shock
A R3-per-litre levy cut cushions April’s fuel spike, but rising oil prices and expiring relief point to steep increases ahead.
SARS raids mark overdue escalation in illicit economy crackdown
Search-and-seizure operations targeting customs corruption mark a move from policy to enforcement, as SARS steps up efforts against illicit trade draining billions from the fiscus.
Holding the line: fiscal discipline takes centre stage
National Treasury Director-General Duncan Pieterse says South Africa’s core fiscal challenge is structurally low economic growth that trails population expansion.
A ‘new’ world order that looks a lot like the old one
For investors, geopolitics is no longer background noise. It is a core driver of supply chains, inflation, and sovereign risk premia, says Momentum’s Sanisha Packirisamy.
Money talks: what the 2026 Budget says about government’s priorities
A tighter, more disciplined Budget channels spending into social support and infrastructure while cutting waste to avoid tax hikes.
Is South Africa finally turning the corner on debt?
While borrowing remains substantial, improving bond yields, firmer revenue, and reduced debt-service growth suggest a more credible consolidation path.
Moody’s sees SA recovery taking shape by 2026
The ratings agency says long-awaited reforms could finally lift South Africa onto a firmer growth path, with momentum expected to build steadily from 2026.
SARB sees path to growth: lower inflation, de-risking, and smarter debt
Reserve Bank Governor Lesetja Kganyago says permanently lower inflation, fiscal consolidation, and reduced country risk could cut interest rates and create space for sustainable growth.
Budget deadlock ends as National Assembly approves Appropriation Bill
The National Assembly has passed the 2025 Appropriation Bill, unlocking R2.3 trillion in government spending.
Budget gap widens as revenue projections slide
The revised Budget reveals the hard truth: with limited borrowing room and rising demands, Treasury must make tough calls on what to fund – and what to cut.
Coalition politics hampered Budget consensus, says Godongwana
South Africa’s credibility among investors and ratings agencies will depend on whether the government meets the fiscal targets it has set, says Treasury.
