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The juggling act of fiscal policy - Growing debt vs declining growth - Nhlanhla Cyril Mbatha

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The display in the national Assembly for the 2025 Budget Speech at Nieuwmeester Dome in Cape Town. The speech was postponed at the last minute to 12 March. (Jeffrey Abrahams/Gallo Images)
The display in the national Assembly for the 2025 Budget Speech at Nieuwmeester Dome in Cape Town. The speech was postponed at the last minute to 12 March. (Jeffrey Abrahams/Gallo Images)

For the first time in post-apartheid South Africa, the 2025 national Budget presentation in Parliament was postponed at last minute by the Cabinet of the government of national unity (GNU). 

This reflected the intensity of the opposing views on what are the national needs and useful tools to prioritise both within the GNU and thereafter in Parliament. The postponement signals the transactional price of a democratic process in drafting and executing a fiscal policy.

中国足彩网 20 years ago former minister of finance, Mr Trevor Manuel, would liken the political process required in negotiating the order of socio-economic priorities to juggling of balls when presenting his national Budget speech.

The juggling of balls has now been taken out of the internal party politics of the ANC (a majority party at the time) to members of the GNU and a divided Parliament. For many proponents of democracy, this signals a positive development in South Africa, even with its current price tag.

Read whole argument in this attachment:

Balancing Act - National Budget 2025