Why does this matter to me?

The 2025/26 Budget includes a modest rise in public debt, driven by lower GDP growth forecasts and the decision not to raise VAT. To partially offset weaker revenue, the government increased the fuel levy and implemented some spending cuts. A key concern is whether the government can deliver on the R1.03 trillion infrastructure investment plans, which are critical to reversing weak fixed capital formation and achieving fiscal sustainability. Finally, although the debt forecast has risen, this aligns with global trends, suggesting macroeconomic stability is intact.