After months of political gridlock, South Africa’s parliament has finally passed the fiscal framework and revenue proposals, marking a crucial step toward full budget approval. The delay stemmed from disagreement within the coalition government—mainly over a proposed VAT hike—which forced multiple rewrites. A revised version, minus the VAT increase, won support from both the African National Congress and Democratic Alliancea, who together hold a majority in the National Assembly. Finance Minister Enoch Godongwana described the milestone as a hard-won step toward growth but reminded MPs that they have oversight to ensure the budget is spent properly. While this vote eases investor concerns, the road isn’t clear yet—the revenue and spending bills still await approval.
Daily Maverick
