Africa ETP News
you are currently viewing::South Africa projects wider deficits and rising debt despite improved growthOctober 31, 2024--South Africa's government forecasted higher budget deficits and debt for the next three years, even as improved electricity supply suggests better growth prospects. In its first budget review since forming a coalition,the National Treasury projected a 5.0% deficit of national output for the fiscal year ending in March 2025, up from the 4.5% previously forecast. For the next fiscal year, the deficit is expected to be 4.3% of GDP,compared to the earlier 3.7% estimate. The rand weakened following these announcements. Revenue collection is under pressure due to declines in fuel and import taxes, and Finance Minister Enoch Godongwana emphasized the need for tough fiscal decisions in light of limited growth. Source: africanews.com |
New World Bank Report Highlights Four Pathways to Spur Job Creation and Inclusive Growth in South Africa
February 28, 2025--A new World Bank report titled "Driving Inclusive Growth in South Africa: Quick Wins with Competitive Markets and Efficient Institutions" asserts that a robust economic recovery, shared across all sectors of society, can be achieved in the immediate future by implementing a series of policy actions in four priority areas: infrastructure services, greater private sector participation, creating cities as engines of growth, and efficient public spending.
