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South Africa Plans Stabilizing Government Debt To 88.9% of GDP


Finance Minister, Tito Mboweni

 

South Africa has announced a plan to stabilize its government debt to 88.9% of Gross  Domestic Product (GDP) in 2025/26.

Finance Minister, Tito Mboweni, announced the ambitious plan on Wednesday, February 24, 2021, during his presentation of the nation’s budget statement.

According to him, the intention was to see the debt decline 2025/26.

The Minister further announced plans to
support both the economy and public health services, as well as ensuring the sustainability of the country’s public finances and achieve a primary budget surplus by 2024/25.

He was optimistic about the plans, observing how  his optimism came from “a much-improved economic outlook”.

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