| Year | Gross debt to GDP | Budget deficit to GDP | Debt service to revenue |
|---|---|---|---|
| 2026/27 | About 76% | About 4.4% | About 22% |
| 2025/26 | About 76% | About 4.7% | About 22% |
| 2024/25 | About 74% | About 4.5% | About 21% |
| 2023/24 | About 73% | About 4.6% | About 20% |
| 2020/21 | About 69% | About 10.0% | About 18% |
| 2015/16 | About 47% | About 3.7% | About 11% |
| 2010/11 | About 34% | About 4.6% | About 8% |
| 2008/09 | About 26% | About 0.5% | About 7% |
| Item | Approximate share of spending |
|---|---|
| Debt service costs | About 21% |
| Learning and culture | About 20% |
| Social development | About 16% |
| Health | About 12% |
| Community development | About 11% |
| Peace and security | About 10% |
| Economic development | About 10% |
| Channel | Effect |
|---|---|
| Bond yields | A worsening trajectory raises the long end first |
| The rand | Fiscal news moves it faster than growth news |
| Ratings | Debt to GDP is the headline metric agencies cite |
| Bank funding | Banks hold government paper, so their costs follow |
| Equities | Domestic earners suffer, rand hedges benefit |
Data maintained by TradeAnswers · updated as the figures change