South Africa's government, in its first budget review under the new coalition government (GNU), stated that the deficit is expected to widen to 5% of the GDP in 2024/25, up from February's estimate of 4.5%, citing lower revenue collection. This compares with analysts' expectations of a shortfall of 4.4%. For the next fiscal year, the Treasury now sees a budget deficit of 4.3% of the GDP, also above the previous estimate of 3.7%. Gross debt to GDP is seen stabilizing at 75.5% of GDP in 2025/26 compared with 75.3% of GDP in the same year seen in February. The economy is projected to grow 1.1% this year, down from February's estimate of 1.3%. Growth is expected to accelerate to 1.7% in 2025, slightly exceeding the previous forecast of 1.6%, amid improved power supply. source: National Treasury, South Africa
South Africa recorded a Government Budget deficit equal to 4.90 percent of the country's Gross Domestic Product in 2023. Government Budget in South Africa averaged -3.79 percent of GDP from 1989 until 2023, reaching an all time high of 1.00 percent of GDP in 2007 and a record low of -10.00 percent of GDP in 2020. This page provides - South Africa Government Budget - actual values, historical data, forecast, chart, statistics, economic calendar and news. South Africa Government Budget - values, historical data and charts - was last updated on November of 2024.
South Africa recorded a Government Budget deficit equal to 4.90 percent of the country's Gross Domestic Product in 2023. Government Budget in South Africa is expected to reach -4.90 percent of GDP by the end of 2024, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Government Budget is projected to trend around -5.00 percent of GDP in 2025 and -4.30 percent of GDP in 2026, according to our econometric models.