South Africa records first primary budget surplus in 15 years, totaling 31.6bn rand ($1.7bn) or 0.4% of GDP.

South Africa records first primary budget surplus in 15 years, achieving a 31.6bn rand ($1.7bn) surplus, or 0.4% of GDP, in the year to March 2024, driven by decreased non-interest expenditure. This follows strict funding conditions for state-owned companies by Finance Minister Enoch Godongwana. The achievement may be welcomed by investors who have been hesitant due to high debt levels.

June 27, 2024
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