Finance Minister Enoch Godongwana noted that debt has risen too fast and is too high in South Africa.
has warned that South Africa’s debt has risen too fast and too high - currently R5.2 trillion, and the country has to manage its debt more effectively.
“We are anticipating that government debt will reach more than R6.05 trillion, or 75.5% of GDP, in 2025/26,” he said. “To deal with this problem, we have taken difficult steps to reduce the budget deficit. We have restrained spending and maintained stable tax collection,” Godongwana said.
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