AS Finance Minister Enoch Godongwana prepares to take the podium on Wednesday, 25 February, to table Mzansi's Budget, there is optimism that it will translate into a better life for Mzansi.
Experts, political parties and unions seem to agree that the economy is moving upward because of a firmer Rand and declining risk premiums.
Economist Frederick Mitchell from Aluma Capital said for the first time in over a decade, National Treasury is negotiating from a position of emerging strength rather than desperate defence.
"The Rand is trading firmly around R16,00 to R16,15 to the USD, a remarkable recovery from R18,50 levels, bolstered by the stability of the Government of National Unity (GNU) and the continued absence of load-shedding," he said.
Mitchell pointed out that for analysts, this Budget is less about "fixing the leaks" and more about "powering the engine".
However, he cautioned that Mzansi can't rely on luck alone.
"The global environment remains volatile, with 'Trump 2.0' trade policies and potential shifts in Agoa (African Growth and Opportunity Act) posing risks to our export-led sectors," he stated.
"Our recent exit from the FATF Greylist was a victory for our financial sector, but the Budget must now reinforce this by funding specialised crime units and maintaining a 'clean business' environment."
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The ANC pointed out that across sectors, performance has strengthened, with mining and agriculture leading contributions to output and export performance.
The party said against this improving backdrop, its expectations for the Budget are that it must consolidate fiscal stability, accelerate structural reform, and decisively advance inclusive growth, job creation and social protection.
"The stabilisation of public debt as a percentage of GDP marks a turning point after years of fiscal strain. With the main budget deficit projected to narrow from 4,5 per cent, the ANC looks to the Budget to translate this hard-won stability into expanded developmental capacity rather than reduced service delivery," said ANC spokeswoman Mahlengi Bhengu.
Outlining its expectation, the Inkatha Freedom Party (IFP) said the Budget should be grounded in fiscal responsibility, pro-poor investment, and the urgent need to rebuild public confidence in South Africa's economic direction.
The party's Parliament Chief Whip Nhlanhla Hadebe stated that the 2025 Budget reflected a "work with what you have" reality.
He said the IFP expects the 2026 Budget "to deepen, not dilute" progress made in frontline services such as education, health, social grant, Infrastructure Investment and addressing the cost-of-living crisis.
The South African Federation of Trade Unions (Saftu) said it anticipates and rejects any attempt to present fiscal austerity as an objective necessity.
"These fiscal constraints are not acts of nature. They are as a direct result of deliberate political and class choices made over three decades," said Saftu general-secretary Zwelinzima Vavi.
He lamented that successive governments have systematically starved the fiscus of revenue.
