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- The South African government’s total debt is R4.7-trillion
- Debt increased by R792-billion in the 2 years after the Covid pandemic
- Factors such as loadshedding and the failure of state-owned companies are adding to the burden
South Africa's debt has been spiralling since the 2008 global financial crisis. Exacerbated by pandemic-related borrowing in 2020, the government's total debt is now R4.7-trillion. Most of the funds have been raised on the domestic bond market. Factors such as failing state-owned companies, wasteful expenditure, loadshedding and unemployment mean the economy isn’t generating enough tax to balance the budget. With an election in 2024, spending is likely to remain high, with the debt burden rising even further.
— 20 September, 2023Subscribe to the weekly newsletter for more charts like this
