Wednesday, 21 October 2026

Treasury has allocated an additional R10 billion for fuel levy relief, cutting the levy R3 a litre on diesel and R1.50 on petrol from 4 November to 1 December, then at a lower level until 5 January.

Treasury cut South Africa's 2026 growth forecast to 1.2% from the 1.6% projected in February, citing a prolonged Middle East conflict and likely El Nino impacts on costs and output.

The fiscal anchor will be written into law next year. It sets no numerical rule; instead, each new administration must state how it will manage debt, and an independent commission will assess compliance.

Treasury plans to overhaul municipal finance laws, including taking over the appointment of municipal chief financial officers, to address weak financial management in local government.

Treasury has set aside R3.8 billion over three years to hire more than 3,500 social workers for the gender-based violence response, though the money is reprioritised from existing budgets rather than new funding.