In that time, GDP growth has averaged less than 2%, far below the level required to meet an expanding list of needs. In 2024, the economy grew by only 0.6%. Over the medium term, GDP growth is projected to average 1.8%.
 

Eskom is now in a much better financial position than in 2023 when the debt relief was originally announced. As a result of these improvements, the government has decided to simplify the final phase of the debt relief package. The last R70 billion debt takeover will now be replaced with R40 billion in 2025/26, and R10 billion in 2028/29. This will result in a saving for the government of about R20 billion.

The energy reforms have created a 22 500 mega-watt pipeline of projects. More than 10 000 mega-watts are formally registered with the NERSA, which is one of the last steps in the regulatory process. These projects will contribute to reducing power cuts.

The Freight Logistics Roadmap has been approved. The roadmap allows private sector participation and gives third-party access to any operator without discrimination in accordance with the network statement.

The Department of Transport and Transnet will engage the market on private sector participation projects in the following areas:
 

• The ore, chrome, coal and manganese lines.
• Expansion and automation of the ferrochrome and magnetite terminal at the port of Richards Bay.
• The container and automotive sectors, including the potential designation of the SA container port system as a regional trans-shipment hub for major shipping lines.
• And establishment of independent rolling stock leasing company.
• Should Transnet require gap funding for its PSP projects, the Budget Facility for Infrastructure (BFI) will consider these after proper packaging and financial structuring.

Read the full Budget Speech made by Finance Minister Enoch Godongwana on 12 March 2025.