RISE Mzansi Reacts to Budget 3.0: A Call for Prudent Investment Amidst Economic Headwinds

To read the full statement, click here

Cape Town, South Africa – In a media statement released today, May 21, 2025, RISE Mzansi National Leader Songezo Zibi MP addressed the recently announced Budget 3.0, emphasizing the need for South Africa to prioritize essential investments over wants, especially in a challenging economic climate.

Zibi acknowledged the public’s clear demand for government accountability regarding existing funds, rather than requests for more money. He described this as a fair demand, arising from a nearly 15-year period marked by poor policy decisions and widespread corruption.

While RISE Mzansi is “content” with the Budget’s baseline remaining unchanged, Zibi expressed a desire for additional allocations to critical sectors such as health, safety, education, and economic infrastructure. He stressed that overcoming the current economic difficulties requires “smart and tough decisions,” particularly in combating corruption and meticulously managing public spending.

The statement highlighted the downward revision of the GDP growth outlook for 2025, from 1.9% to 1.4%, with projections also revised downwards over the medium-term, which is expected to result in muted revenue collection.

With debt-servicing costs reaching approximately R1.2 billion daily, Zibi underscored the urgency of not burdening future generations with this debt. He asserted that any further borrowing must be directed towards igniting economic growth and job creation, vowing that RISE Mzansi would oppose borrowing simply to “plaster over poor decisions”.

Zibi emphasized the critical importance of making sound policy choices that benefit the future, advocating for investments in skills and education to foster a modern and resilient economy. He reiterated the need for aggressive investment in infrastructure and health, stressing the distinction between needs and wants.

Looking ahead, Zibi, in his capacity as Chairperson of the Standing Committee of Public Accounts (SCOPA), announced that he would collaborate with the Standing Committee on Appropriations (SCOA) and National Treasury to recover wasted and recklessly spent public funds, ensuring every rand is properly accounted for. He acknowledged that the coming years would be difficult for poor, working-class, and middle-class South Africans, but expressed confidence that mature leadership and politically unpopular decisions would ultimately lead to a prosperous South Africa.