South Africa Budget Deficit
General government net lending/borrowing as % of GDP GGXCNL_NGDP
South Africa's budget deficit was -5.99% in 2025, ranked 156th globally. This represents a 3.4% decrease from 2024. Data from IMF WEO, covering 2000–2025.
Overview
South Africa's budget deficit stood at -5.99% in 2025, a decline of +0.20% from 2024. The IMF projects -5.99% by 2025. South Africa ranked 156th globally.
South Africa's budget deficit has exhibited considerable volatility over the past 26 years, with the latest figure standing at -5.99% of GDP. The country's all-time peak deficit was recorded in 2007 at 1.22%, while the trough occurred in 2020 at -9.62%. Notably, South Africa's budget deficit has surpassed that of its peer country Belgium, which has a deficit of -5.53% of GDP. In comparison, Rwanda's deficit is slightly higher at -6.29%. The significant decline in the deficit during the 2020 trough highlights the fiscal measures implemented by the government in response to the COVID-19 pandemic. However, the recent increase in the deficit suggests a return to pre-pandemic trends. To alter the trajectory of the budget deficit, South Africa would need to implement sustainable fiscal reforms and maintain a stable economic environment, potentially through diversification of its economy and reduction of its reliance on commodities.
Data & projection
| Year | Budget Deficit | YoY change | Rank |
|---|---|---|---|
| 2030* IMF | -4.68% | - | - |
| 2029* IMF | -4.78% | - | - |
| 2028* IMF | -5.00% | - | - |
| 2027* IMF | -5.33% | - | - |
| 2026* IMF | -5.65% | - | - |
| 2025* IMF | -5.99% | - | - |
| 2025 | -5.99% | −0.20% | #156 |
| 2024 | -5.79% | −0.25% | #38 |
| 2023 | -5.55% | −1.30% | #34 |
| 2022 | -4.25% | +1.29% | #66 |
| 2021 | -5.54% | +4.08% | #67 |
| 2020 | -9.62% | −4.55% | #37 |
| 2019 | -5.07% | −1.34% | #31 |
| 2018 | -3.73% | +0.28% | #48 |
| 2017 | -4.02% | −0.29% | #50 |
| 2016 | -3.73% | +0.65% | #66 |
| 2015 | -4.37% | −0.45% | #59 |
| 2014 | -3.93% | −0.02% | #61 |
| 2013 | -3.90% | +0.14% | #59 |
| 2012 | -4.04% | −0.34% | #54 |
| 2011 | -3.70% | +0.81% | #64 |
Detected Pattern
Analysis
South Africa matched the Export Boom Cycle pattern in 1994. Historically, 71% of countries showing this pattern (546 out of 768) saw budget deficit improve within 24 months. View full analysis →
Frequently Asked Questions
South Africa's budget deficit was -5.99% in 2025. Ranked 156th globally. This represents a 3.4% decrease from the previous year.
South Africa's budget deficit peaked at 1.22% in 2007.
The lowest budget deficit in South Africa was -9.62% in 2020.
South Africa ranks 156th globally in budget deficit as of 2025.
The World Bank indicator code is GGXCNL_NGDP. Data sourced from IMF WEO.
South Africa's budget deficit is projected to reach -5.99% by 2025 based on IMF projection.
The budget deficit of South Africa in 2025 was -5.99%. This ranks 156th in the world.
Cite this page
@misc{historysaid_south-africa_budget-deficit,
title = {South Africa Budget Deficit},
url = {https://historysaid.com/south-africa/budget-deficit/},
publisher = {HistorySaid},
year = {2026}
}