11 answers, 5 from South Africa's own official bodies, with a link to each figure.
What is South Africa's budget deficit?
South Africa's consolidated budget deficit was estimated at R347.2 billion, or 4.5% of GDP, for 2025/26 and projected at R324.3 billion, or 4.0% of GDP, for 2026/27, according to the National Treasury's 2026 Budget Review, published on 25 February 2026. It is projected to narrow to 3.1% of GDP by 2028/29.
The consolidated budget covers national and provincial government, social security funds and public entities. The main budget deficit, which covers national government only, was projected at 3.7% of GDP for 2026/27. The Medium-Term Budget Policy Statement later in 2026 will update these estimates.
South Africa's debt-service costs were projected at R432.4 billion in 2026/27, up from an estimated R420.6 billion in 2025/26, according to the 2026 Budget Review. The Treasury says debt-service costs rose from 9 cents of every rand of tax revenue in 2008/09 to 21 cents.
Debt-service costs are the interest paid on government debt. They are one of the largest spending items in the budget and grow when debt rises or borrowing costs increase. The Treasury projects gross debt to peak as a share of GDP in 2025/26 and to fall after that.
South Africa's main budget recorded an estimated primary surplus of R71.7 billion, or 0.9% of GDP, in 2025/26, according to the 2026 Budget Review. It is projected to rise to R131.2 billion (1.6% of GDP) in 2026/27 and 2.3% of GDP by 2028/29.
A primary surplus means revenue is higher than spending excluding interest payments. South Africa still runs an overall deficit because interest costs, projected at R432.4 billion in 2026/27, are larger than the primary surplus. The Treasury's strategy is to grow the primary surplus so that debt falls as a share of GDP.
South Africa's gross tax revenue was estimated at R2,006.9 billion in 2025/26 and projected at R2,127.0 billion in 2026/27, according to the 2026 Budget Review. The 2026/27 projection is R16.2 billion lower than in the 2025 Medium-Term Budget Policy Statement; over three years, revenue was revised down by R57.2 billion, mainly because R20 billion of tax increases planned for 2026/27 were withdrawn.
Gross tax revenue is collected by the South African Revenue Service and includes personal income tax, VAT, company tax and customs and excise duties. Part of it is paid to the Southern African Customs Union partners before the rest funds the main budget.
South Africa's consolidated government spending was projected at R2,669.7 billion, or 32.6% of GDP, in 2026/27, according to the 2026 Budget Review, against revenue of R2,345.4 billion. Over the three years to 2028/29, learning and culture is the largest spending area at R1,648.1 billion, followed by social development (R1,365.9 billion) and debt-service costs (R1,353.2 billion).
Consolidated spending covers national and provincial departments, social security funds and public entities. Compensation of employees accounts for nearly one-third of it. The Medium-Term Budget Policy Statement will revise these numbers later in 2026.
The figures below use one definition for every country, so they can differ from national figures.
What is South Africa's debt to GDP ratio?
The latest figure from the IMF, for 2025, is 78.4% of GDP. That is the highest since at least 2005. Across Sub-Saharan Africa the middle value was 53.0% of GDP, and South Africa placed 10th highest of 46. Worldwide: 45th of 185.
What is South Africa's fiscal deficit?
According to the IMF, general government net lending or borrowing in South Africa was -5.6% of GDP in 2025, a deficit. Its high point since 2005 was 2007, at 1.2% of GDP; its low point was 2020, at -9.6% of GDP. It is 37th highest of 47 in Sub-Saharan Africa, where the median is -3.0% of GDP. World rank, highest first: 156th of 188.
How much revenue does South Africa's government raise?
The IMF puts general government revenue in South Africa at 28.5% of GDP in 2025. No year since 2005 has been higher. Sub-Saharan Africa median: 18.4% of GDP; South Africa is 5th highest of 47. World rank, highest first: 82nd of 187.
How big is South Africa's government spending as a share of GDP?
The IMF puts general government spending in South Africa at 34.1% of GDP in 2025. Its high point since 2005 was 2020, at 34.6% of GDP; its low point was 2007, at 24.4% of GDP. Sub-Saharan Africa median: 20.8% of GDP; South Africa is 4th highest of 46. Worldwide: 74th of 186.
What is South Africa's tax to GDP ratio?
The latest figure from the IMF, for 2024, is 25.9% of GDP. The peak was 26.0% of GDP in 2022 and the low 21.9% of GDP in 2009. Sub-Saharan Africa median: 14.1% of GDP; South Africa is 3rd highest of 16. World rank, highest first: 9th of 92.
How much does South Africa spend on its military?
SIPRI puts military spending in South Africa at 0.7% of GDP in 2025. It is the bottom of the series, which starts in 2005. It is 36th highest of 44 in Sub-Saharan Africa, where the median is 1.3% of GDP. Of 149 countries with 2025 data, 126th highest.