South Africa on track for first budget surplus in 15 years

South Africa likely achieved a primary budget surplus — where revenue exceeds non-interest expenditure — for the first time in 15 years, setting it on a path to arrest further growth in debt that’s already worryingly high.

The positive data is a boon for the ruling African National Congress, which opinion polls show risks losing its majority for the first time since coming to power three decades ago in national elections on May 29 because of its mismanagement of the economy. The first primary surplus since the financial crisis offers a glimmer of hope that debt stabilization may be within reach, said Yvonne Mhango, Bloomberg Africa economist. “But for that goal to be attainable, this data point needs to be the start of a sustainable trend over the next few years,” she said.

Source: Loan Digest (loandigest.net)

South Africa Latest News, South Africa Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

South Africa: 30 Years On, South Africa Still Dismantling Racism and Apartheid's LegacyRethabile Ratsomo said it's the little things that remind her of her perceived 'place' in South African society.
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: 30 Years On, South Africa's Dream of Unity Lies ShatteredThirty years after the end of apartheid, South Africa is looking back on a democratic but deeply divided society. Political divisions have fueled a growing disappointment with Nelson Mandela's liberation party, the ANC.
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: Never Has a Wise Vote Been More Important to the Future of South AfricaAnalysis - After thirty years of democracy, the heroes of freedom have been replaced by the hyenas of stealing
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: How the Mandela Myth Helped Win the Battle for Democracy in South AfricaAnalysis - Political history scholar Jonny Steinberg's 2023 book Winnie & Nelson: Portrait of a Marriage is a double biography of South Africa's most famous political figures - Nelson Mandela and Winnie Madikizela Mandela - and their role in the country's struggle for democracy.
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: Surprise Comeback of South Africa's Ex-President Jacob Zuma Could Challenge ANCSouth Africa's ex-president Jacob Zuma is running a visible and noisy campaign for May's elections against his former party, the ruling African National Congress (ANC), another bump on a difficult road for the historical post-apartheid party.
Source: allafrica - 🏆 1. / 99 Read more »

South Africa: Codeine Misuse - South Africa Set to Get New GuidelinesIn response to high levels of codeine abuse in South Africa, health authorities have been developing a plan to track the supply of the drug from manufacturers all the way to patients. In this Spotlight feature, Jesse Copelyn explores why people get hooked on codeine, and how the new project could combat the problem.
Source: allafrica - 🏆 1. / 99 Read more »