Source data
South African fiscal ratios before and after the November 2026 GDP recalculation
Sources checked
October budget statement
Shared scale · 0% of GDP to 78.4% of GDP
November GDP recalculation
Shared scale · 0% of GDP to 78.4% of GDP
Each view uses the same scale. The table records the changes in percentage points and the projected timing of the debt threshold.
South African fiscal ratios before and after the November 2026 GDP recalculation
The October 2026 Medium Term Budget Policy Statement provides the comparison baseline. The November figures reflect the nominal GDP benchmark revision. Some measures and years are projections.
| Source | ||||
|---|---|---|---|---|
| Gross loan debt, 2025/26 | 78.4 | 74.6 | -3.8 percentage points | Source 1 |
| Main budget deficit, 2026/27 | 3.7 | 3.5 | -0.2 percentage points | Source 1 |
| Primary surplus, 2026/27 | 1.7 | 1.6 | -0.1 percentage points | Source 1 |
| Primary surplus, 2029/30 | 2.9 | 2.8 | -0.1 percentage points | Source 1 |
| Projected fiscal year below 70% debt to GDP | 2033/34 | 2032/33 | One fiscal year earlier | Source 1 |