South Africa Poised to Meet Fiscal Targets: Debt Stabilization and Budget Surplus, Treasury Head Says
South Africa Poised to Meet Fiscal Targets: Debt Stabilization and Budget Surplus, Treasury Head Says
South Africa’s finances are showing healthy trends, and the government expects to meet its debt-to-GDP and fiscal balance goals, Treasury Director-General Duncan Pieterse told a UK media outlet.
In the first half of 2025, spending slowed to 4%, while revenue grew by more than 10%, according to Treasury data.
Spending eased primarily due to delays in approving this year’s main budget—stemming from months of political disputes between the African National Congress and the Democratic Alliance—as well as tighter controls on social grants, Pieterse said.
The Treasury aims to expand its primary budget surplus, where revenue exceeds non-interest spending, to cut debt and boost funding for public services and infrastructure that supports growth.
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