South Africa’s National Treasury is focused on reducing the debt-to-GDP ratio over the rest of the decade and says debt stabilised at 78.4% of GDP in 2025/26. The excerpt also reports upward revisions to estimated tax revenue and other receipts.
At a glance
Affected location: South Africa
Illustrative image: Sources: Statistics Canada, Table 36-10-0580-01 National Balance Sheet Accounts for 1990 to 2022, "Federal general government" and "Other levels of general government", "Debt securities" liabilities (book value) for the fourth quarter; and Table 36-10-0534-01 National balance sheet, provincial and local governments, annual, 1961-2011 and Table 36-10-0533-01 National balance sheet, federal government, annual, 1961-2011 for 1961 to 1989, "Debt securities" measured as "Short-term paper" plus "Bonds — Lukebayy/Wikimedia Commons, CC BY-SA 4.0
South Africa’s 2026/27 gross tax revenue forecast was revised upwards by R17.1 billion, with stronger-than-expected corporate income tax, dividends tax and VAT collections cited. The finance minister said higher commodity prices contributed to the improvement, with those gains expected to dissipate over the medium term.
South Africa’s government announced increased funding aimed at addressing crime and corruption. Further details on the announcement’s outcomes were not provided.
The source reports that South Africa’s infrastructure agency began operating on 1 April 2026 and supports projects with potential investment value exceeding R207 billion.
Finance Minister Enoch Godongwana said in Parliament that government measures were beginning to stabilize public finances. The excerpt reports that debt as a share of GDP is falling, but ends before completing its reference to global credit ratings.
South Africa’s finance minister announced temporary reductions to the general fuel levy, beginning 4 November 2026, with lower reductions continuing through 5 January 2027. The measures are described as providing R10 billion in support for households and businesses.
South Africa’s reform programme is reported to be moving from plans to implementation in electricity, logistics and water. The finance minister emphasized that the reforms affect daily life.
