JOHANNESBURG, Nov 5 (Reuters) – South Africa’s National Treasury said on Thursday that last week’s rebasing of the country’s Gross Domestic Product (GDP) had improved key fiscal metrics, including lowering last year’s peak in the debt-to-GDP ratio.
• 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
(Reporting by Kopano Gumbi;Editing by Alexander Winning)
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