Despite the limited resources available to Finance Minister Enoch Godongwana, he will aim to balance economic growth with support for the vulnerable when he delivers the 2024 National Budget Speech this afternoon at 14:00.

The minister will outline all the financial, economic, and social commitments that the government will prioritise in its planned expenditure, and South Africans will get to know if taxes will put more or less cash in their pockets.

With the national election looming, rising government debts and slow economic growth, the finance minister has a hefty task at hand.

On February 8, President Cyril Ramaphosa delivered the 2024 State of the Nation Address and outlined the national government’s plans to tackle the country’s energy crisis and other socio-economic challenges. Godongwana will provide a detailed plan for 2024 spending, including proposals for revenue collection to help fund government’s planned interventions and commitments.

He is also expected to introduce the Appropriation Bill and table the Division of Revenue Bill, which Parliament will process in the following months.

Watch the budget speech live at 14:00: