South Africa’s carefully crafted 2026 Budget, designed to pull the country out of years of economic stagnation, now faces severe threats from soaring oil prices and currency weakness triggered by the escalating US-Israeli military offensive against Iran, writes Khutso Makua.

 South Africa’s economy entered 2026 with a fragile sense of cautious optimism. After many years of stagnation, high debt and stagnating investment, the recently tabled Budget by the minister of finance signalled a renewed effort to stabilise public finances, boost infrastructure investment, and arrest the slide in living standards. 

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