South Africa has entered unchartered waters following deep divisions in the coalition government over the national budget that has finally been tabled after a month-long delay. This is the view of analysts after Finance Minister Enoch Godongwana's budget drew a backlash from various quarters,

According to the 2025 National Treasury Budget Review document, government is proposing to increase excise duties on alcoholic beverages by 6.75%, while the tobacco excise duties are expected to increase by 4.75% for cigarettes, cigarette tobacco, and electronic nicotine and non-nicotine delivery systems (“vaping”).

South Africa's budget may be tweaked further as more talks between political parties will try to overcome differences over a contentious plan to raise value-added tax, the country's finance minister told Reuters.