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South Africa Treasury - GDP Rebase Cuts Debt-to-GDP Peak to 74.6% and Lowers 2026/27 Deficit to 3.5%

05 November 20261 min
Submitted by: BizCommunity Editor
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South Africa Treasury - GDP Rebase Cuts Debt-to-GDP Peak to 74.6% and Lowers 2026/27 Deficit to 3.5%
Source: Reuters.
  • The Treasury said in a statement that debt-to-GDP peaked at 74.6% in the 2025/26 fiscal year based on the statistics agency's updated GDP estimates, down from the 78.4% figure given in last month's mid-year budget review.
  • Statistics South Africa's rebasing and benchmark exercise showed the country's economy was about 5% larger than previously reported.
  • The Treasury said the 2026/27 main budget deficit was now seen at 3.5% of GDP, against 3.7% in the mid-term budget review.
  • The primary surplus is forecast at 1.6% of GDP in 2026/27, rising to 2.8% in 2029/30.
  • Treasury Director General Duncan Pieterse said although the forecast changes were a mechanical revision, they showed the government "continues to achieve its fiscal targets" and is seeing the benefits in lower borrowing costs.
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