In its mid-year review of the 2025 budget, South Africa’s government projected an improved fiscal outlook, although economic growth is expected to slow slightly this year. The National Treasury now forecasts a slightly smaller consolidated budget deficit of 4.7% of the GDP, compared to May's estimate of 4.8% of GDP, thanks to higher revenue collections. The government is expected to collect ZAR 19.7 billion more in taxes than initially forecasted in the Budget Speech in May. South Africa's debt-to-GDP ratio is seen stabilizing at 77.9% this fiscal year, higher than the 77.4% indicated in May. Meanwhile, growth projections for this year and next have been revised down to 1.2% and 1.5%, from 1.4% and 1.6%, respectively. Importantly, Finance Minister Enoch Godongwana confirmed a lowering of South Africa's inflation target to 3%, with a 1 percentage point tolerance band on either side, marking the first adjustment in 25 years. source: National Treasury, South Africa
South Africa recorded a Government Budget deficit equal to 5 percent of the country's Gross Domestic Product in 2024. Government Budget in South Africa averaged -3.83 percent of GDP from 1989 until 2024, 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 February of 2026.
South Africa recorded a Government Budget deficit equal to 5 percent of the country's Gross Domestic Product in 2024. Government Budget in South Africa is expected to reach -4.70 percent of GDP by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Government Budget is projected to trend around -3.80 percent of GDP in 2026 and -3.50 percent of GDP in 2027, according to our econometric models.