The Finance Minister’s proposed 2% value-added tax (VAT) hike, which derailed last week’s Budget Speech, is set to be discussed at party and Cabinet level this week. Internationally, Russia’s war in Ukraine will be in focus at the G7, United Nations, European Union, and at other summits and bilateral meetings.

The Minister of Finance’s Budget Speech takes centre stage this week, outlining the government’s fiscal plans against a backdrop of slow economic growth, revenue shortfalls, and mounting debt pressures.

Parliament will hold a three-day debate on the President’s State of the Nation Address, alongside a packed schedule of parliamentary committee meetings. Conflict in the Middle East, Sudan, the DRC and Ukraine will dominate various global ministerial forums, heads-of-state meetings, protest rallies and the African Union Summit, which begins on Saturday.

All eyes are on President Ramaphosa’s State of the Nation Address (SONA) taking place on Thursday evening at the Cape Town City Hall. He is expected to outline the Government of National Unity’s medium-term priorities and indicate progress on its resolution of policy differences, particularly on contentious issues like the National Health Insurance.

The two-day Cabinet Lekgotla this week takes place amid the Democratic Alliance’s declaration of a formal dispute over the newly-signed Expropriation Act and NHI. Members of Parliament return for committee meetings ahead of next week’s State of the Nation Address and official reopening of Parliament.

Donald Trump’s inauguration as U.S. President tops the global news agenda alongside the annual World Economic Forum (WEF) meeting in Davos. South African MPs will be in their constituencies ahead of the reconvening of parliamentary committees next week.