South Africa's coalition government is making increased efforts to attract investment due to mounting pressure on the country's public finances.

The latest budget update reveals that the fiscal deficit is expected to widen to 5% of gross domestic product for the year ending in March, surpassing the previously estimated 4.5% in February.

Finance Minister Enoch Godongwana emphasized the urgent need for financial stability in the region's largest economy during the delivery of the medium-term budget policy statement.

The government's focus on investment is crucial as it aims to boost economic growth and restore investor confidence in the face of challenging fiscal conditions.