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Response to budget speech 3.0
Atlantic Sun
|May 29, 2025
South Africa's Budget 3.0, tabled last week following months of political negotiation and fiscal reworking, brings with it a blend of relief, realism, and renewed responsibility.
“While I welcome the fact that we avoided a VAT increase, this budget does signal some underlying challenges that could temper market momentum,” says Adrian Goslett, regional director and CEO of RE/MAX of Southern Africa.
“One of the most sobering updates in this re-tabled budget is the revised GDP forecast of just 1.4% for 2025, down from the earlier projection of 1.9%.
“This weakened outlook inevitably affects consumer confidence and employment prospects - two essential drivers of real estate demand,” he notes.
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