Budget 2025: Removed from reality

Budget 2025: Removed from reality

The latest edition of the Macro Review unpacks the 2025 National Budget and identifies the long-term risks to South Africa's public finances.

Publication description

This report looks at: 

  • South Africa's fiscal trajectory
  • Government revenue and expenditure levels
  • National debt and debt service costs
  • The tax base
  • Emerging fiscal risks