Following what it termed “successive constructive engagements” within the African National Congress (ANC) and among the Government of National Unity (GNU) partners, the ANC Caucus believes that Finance Minister Enoch Godongwana will table a Budget that is “balanced and appreciative of the difficult choices that need to be made in a low economic growth environment”.

The Caucus expects “sufficient resources” to be allocated to stabilise the economy.

Godongwana will on Wednesday afternoon table the annual Budget speech, after it was postponed last month owing to disputes among the GNU partners.

“We are confident that the Minister will continue to allocate resources to alleviate poverty and support the poor and the most vulnerable in our society,” the ANC highlighted.

The Caucus said the Budget was essential for the redistribution of wealth and income, transformation, and ensuring the realisation of the socioeconomic rights enshrined in the country’s Constitution.

“We therefore expect the Budget to address the core priorities of the seventh administration articulated by President Cyril Ramaphosa in his State of the Nation Address in February,” it noted.

Meanwhile, Economic Freedom Fighters national spokesperson Sinawo Thambo said there was no further option but for Godongwana to present the Budget, otherwise the market's reaction would be “tragic, and the Rand will be affected massively, showing further deep divisions and incompetency by the GNU”.

“The presumption that the parties forming part of the Cabinet must agree on the Budget proposal for the nation to move forward is extremely misplaced, they are not the final arbiters of whether a Budget get passed or not, Parliament is.

"Whether they agree or not should not be the focal point of what needs to happen in South Africa. They must come out of that meeting with agreements or disagreements - its none of our concerns; they must propose the Budget to the Parliament of South Africa, which is constituted by elected people and it is Parliament that must take a decision whether it accepts or rejects that Budget,” he explained.