---
title: "No major personal tax hikes expected amid 2% growth forecast by 2028"
description: "Finance Minister Enoch Godongwana announced in the annual Budget speech that SA’s debt levels will stabilise as a share of GDP in the 2025/26 fiscal year and start to fall by 2028."
type: "NewsArticle"
publisher: "Daily Maverick"
site: "https://www.dailymaverick.co.za"
section: "BUDGET 2026 LIVE"
author: "Daily Maverick"
author_url: "https://www.dailymaverick.co.za/author/dailymaverick/"
canonical_url: "https://www.dailymaverick.co.za/article/2026-02-25-finance-minister-enoch-godongwana-delivers-budget-speech-2026/"
published: "2026-02-25T13:28:12"
lang: "en-ZA"
word_count: 1902
---

# No major personal tax hikes expected amid 2% growth forecast by 2028

> Finance Minister Enoch Godongwana announced in the annual Budget speech that SA’s debt levels will stabilise as a share of GDP in the 2025/26 fiscal year and start to fall by 2028.

By Daily Maverick · Published 25 February 2026, 15:28 SAST

## Content

*[Live blog — follow updates on the original page](https://www.dailymaverick.co.za/article/2026-02-25-finance-minister-enoch-godongwana-delivers-budget-speech-2026/)*