‘We have learnt our lesson’: Godongwana says 2026 Budget will arrive on time

‘We have learnt our lesson’: Godongwana promises a smoother Budget process

Finance Minister Enoch Godongwana has moved to reassure South Africans that the 2026 national Budget will be delivered and passed on schedule next month, putting to rest fears of a repeat of last year’s unprecedented delay.

Speaking on the sidelines of the World Economic Forum (WEF) in Davos, Switzerland, Godongwana said government had taken hard lessons from the turmoil that surrounded the 2025 Budget the first time in democratic South Africa that a budget speech was postponed.

“There will not be a repeat of what happened last year,” the minister said. “We have learnt a number of lessons.”

A delay that shook confidence

Last year’s Budget delay, which stretched nearly a month, exposed the growing pains of the Government of National Unity (GNU). Disagreements between coalition partners most notably the Democratic Alliance stalled consensus on key fiscal issues, unsettling markets and frustrating the public.

For a country where the Budget is a cornerstone of economic planning, the postponement dented investor confidence and sparked intense political debate. Godongwana acknowledged that the episode had been a wake-up call.

“We are working as much as we can with the relevant parties to ensure that we have a well-supported budget,” he said.

A different message at Davos

Godongwana said South Africa arrived at this year’s WEF with a noticeably different tone. Instead of promising reforms, government believes it can now point to tangible progress.

“In previous years, we’ve been saying things are going to change,” he explained. “This year, we are saying those things have changed.”

Among the milestones he highlighted was South Africa’s exit from grey listing, as well as the stabilisation of public debt.

“We said we would reach a peak in debt and begin to bring it down as a percentage of GDP and we have achieved that,” he said.

Treasury believes these developments strengthen South Africa’s case as an investment destination at a time when global capital is cautious and selective.

Cautious optimism in a tense world

While projecting confidence at home, Godongwana also acknowledged the challenges posed by global instability. He weighed in on one of the more dramatic international talking points US President Donald Trump’s suggestion of invading Greenland.

“My instinct is that is not going to happen,” Godongwana said, adding that he expects diplomatic solutions rather than escalation.

Public reaction and political stakes

On social media, South Africans reacted with cautious optimism to Godongwana’s assurances, with many saying the real test will be delivery, not promises. Analysts note that an on-time Budget would go a long way toward restoring credibility for the GNU and calming jittery markets.

As February approaches, all eyes will be on Treasury, not just for what’s in the numbers, but for whether the process itself signals a more stable era in South African governance.

{Source: IOL}

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