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πŸ‡ΏπŸ‡¦ Economic Outlook: Budget Deficit Widens Amid VAT Reversal

May 22, 20252 Mins Read
πŸ‡ΏπŸ‡¦ Economic Outlook: Budget Deficit Widens Amid VAT Reversal
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South Africa’s National Treasury has announced a widening of the budget deficit to 4.8% of GDP for the current fiscal year, up from the previously projected 4.6%. This adjustment follows the government’s decision to scrap a planned value-added tax (VAT) increase due to political disagreements within the coalition government. Consequently, gross debt is expected to stabilize at 77.4% of GDP in 2025/26, compared to the earlier estimate of 76.2%. The Treasury has reduced projected spending by 69.4 billion rand over three years in response to lowered tax revenues, which have decreased by 61.9 billion rand ($3.5 billion).


πŸ›οΈ Diplomatic Tensions: U.S. President Trump Meets President Ramaphosa

In a high-profile meeting, U.S. President Donald Trump hosted South African President Cyril Ramaphosa at the White House. The encounter was marked by controversy as President Trump presented a video alleging genocide against white farmers in South Africa, a claim that President Ramaphosa and the South African government strongly refute. The meeting, which included discussions on trade and diplomatic relations, has sparked debates over the portrayal of South Africa’s land reform policies


πŸƒβ€β™‚οΈ Sports Highlight: Akani Simbine Breaks Records

South African sprinter Akani Simbine has made headlines by becoming the only athlete in history to run a sub-10-second 100m for 11 consecutive years. He achieved this feat with a time of 9.90 seconds at the Botswana Grand Prix in April 2025. Simbine continued his impressive form by winning gold at the Diamond League in Xiamen, China, and anchoring South Africa to victory in the 4x100m relay at the World Athletics Relays in Guangzhou.


🌍 Global Engagement: South Africa to Host 2025 G20 Summit

South Africa is set to host the 2025 G20 Summit in Johannesburg on November 22–23, marking the first time the event will be held on the African continent. Under the theme “Solidarity, Equality, Sustainability,” the summit aims to address global challenges through a people-centered and development-oriented approach. The event is expected to attract leaders from G20 member countries and invited states, as well as representatives from international organizations.


πŸ”₯ Environmental Update: Table Mountain Wildfires

Cape Town’s iconic Table Mountain has experienced significant wildfire activity in 2025. A fire that began on February 23 burned at least 148 acres of the nature reserve, threatening nearby neighborhoods. A second wildfire in April destroyed five vehicles and 3,000 hectares of vegetation, leading to the evacuation of 200 residents. One individual has been arrested on suspicion of deliberately starting the fire. Wikipedia

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