South Africa's Finance Minister Enoch Godonwana introduced new regulations to ensure fiscal sustainability at a time when debt peaked. Godonghana confirmed that government debt as a share of GDP peaked in the 2025-2026 fiscal year, reaching 78.4%. This figure is slightly lower than expected in the February budget, and is expected to decline year by year. In his opening statement on the medium-term budget policy in Cape Town on Wednesday, he said, “South Africa has come out of financial difficulties. The government is meeting its fiscal goals and getting the public finance back on track.”

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