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Data by MansaAPI · end of day

South Africa · Finances and debt

Southern Africa SADC rand (ZAR)

Source: IMF, World Economic Outlook (October 2026) · updated on

Public finances and external accounts

A fiscal deficit of 5.6 % of GDP

South Africa: in 2025, the general government spent 5.6 % of GDP more than it collected, public debt stood at 78.4 % of GDP, the current account showed a deficit of 0.5 % (IMF).

Fiscal balance · 2025
−5.6 %
of GDP · +4.0 pt since 2020
Public debt · 2025
78.4 %
of GDP · +9.5 pt since 2020
Current account · 2025
−0.5 %
of GDP · −2.5 pt since 2020

Fiscal balance, % of GDP

Negative: a deficit · dashed: estimates and projections

−10 % −8 % −5 % −3 % 0 % 2015 2020 2025 2030 South Africa −3.5 Southern Africa −3.7 −10 % −8 % −5 % −3 % 0 % 2015 2020 2025 2030
Chart data as a table
South Africa: in 2025, the general government spent 5.6 % of GDP more than it collected, public debt stood at 78.4 % of GDP, the current account showed a deficit of 0.5 % (IMF).
Year South AfricaSouthern Africa
2015 −4.4 % −4.2 %
2016 −3.7 % −4.0 %
2017 −4.0 % −4.7 %
2018 −3.7 % −3.1 %
2019 −5.1 % −4.0 %
2020 −9.6 % −7.9 %
2021 −5.5 % −4.5 %
2022 −4.2 % −2.9 %
2023 −5.6 % −5.1 %
2024 −5.7 % −4.4 %
2025 · estimate −5.6 % −4.9 %
2026 · projection −4.4 % −4.2 %
2027 · projection −3.9 % −3.9 %
2028 · projection −3.9 % −3.9 %
2029 · projection −3.7 % −3.8 %
2030 · projection −3.5 % −3.7 %
  • South Africa
  • Southern Africa

Source: IMF, World Economic Outlook (October 2026) · general government net lending or borrowing · group values weighted by GDP in dollars (Syli Atlas)

Current account, % of GDP

Trade, income and transfers with the rest of the world

−6 % −4 % −2 % 0 % 2 % 4 % 2015 2020 2025 2030 South Africa −1.7 −6 % −4 % −2 % 0 % 2 % 4 % 2015 2020 2025 2030
Chart data as a table
Current account balance of South Africa, % of GDP
Year South Africa
2015 −4.3 %
2016 −2.7 %
2017 −2.4 %
2018 −2.9 %
2019 −2.6 %
2020 +2.0 %
2021 +3.7 %
2022 −0.3 %
2023 −1.1 %
2024 −0.7 %
2025 · estimate −0.5 %
2026 · projection −0.7 %
2027 · projection −0.9 %
2028 · projection −1.1 %
2029 · projection −1.5 %
2030 · projection −1.7 %

Source: IMF, World Economic Outlook (October 2026)

Currency

Rand

The rand anchors the Common Monetary Area: the currencies of Lesotho, Namibia and Eswatini are at par with it.

Currency
ZAR
rand
Exchange regime
—
no fixed peg
Inflation · 2025
3.2 %
average annual change in consumer prices
One US dollar
16.59 ZAR
rate of 2026-11-12

Currency codes: ISO 4217 · fixed parities: central banks (BCEAO, BEAC, Central Bank of the Comoros, Bank of Cape Verde…) · inflation: IMF, World Economic Outlook (October 2026) · dollar rate: Data by MansaAPI

Debt

A debt owed first to bond holders

At the end of 2025, South Africa owed 115.0 bn$ in public external debt (World Bank). 1.7 % of it was owed to China, 10.5 % to multilateral institutions and 80.5 % to bond holders.

Debt of the 54 countries →
Public debt · 2025
78.4 %
of GDP · IMF
External debt · 2025
206.3 bn$
public and private · World Bank
Public external debt · 2025
115.0 bn$
owed or guaranteed by the State
Debt service · 2024
6.5 %
of exports of goods, services and income

Public external debt by creditor

Share of the total at the end of each year

2015
2020
2025
Multilateral (IMF, World Bank, AfDB…)
10.5 %
China
1.7 %
Other countries
1.9 %
Bonds (Eurobonds)
80.5 %
Banks and other private lenders
5.4 %

Source: World Bank, International Debt Statistics (updated 2026-11-05) · public and publicly guaranteed external debt, end of year · CC BY 4.0 · shares: Syli Atlas calculation