South Africa's government cut its budget deficit outcome to 10% of GDP in the 2020/21 fiscal year from an earlier estimate of 14% in February, mainly due to better-than-expected tax collections from mines thanks to the commodity demand boom and a rebased GDP. For the current 2021/2022 fiscal year, government deficit is projected at 7.8% of GDP this fiscal year, versus the 9.3% forecast in the main February budget, and gross debt peaking at 78.1% of GDP in 2025/26 versus the 88.9% seen in February. The Treasury also revealed it would stick to a disciplined fiscal strategy and set a new target of narrowing the deficit to 4.9% of GDP in 2024/25. The economy is seen expanding 5.1% this year, compared to the 3.3% estimated in February. source: National Treasury, South Africa
Government Budget in South Africa averaged -3.75 percent of GDP from 1989 until 2020, reaching an all time high of 1 percent of GDP in 2007 and a record low of -12.30 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 2021.
Government Budget in South Africa is expected to reach -7.80 percent of GDP by the end of 2021, according to Trading Economics global macro models and analysts expectations. In the long-term, the South Africa Government Budget is projected to trend around -7.40 percent of GDP in 2022 and -6.50 percent of GDP in 2023, according to our econometric models.