💨 Abstract

South Africa’s government spent R2.4 trillion in 2023/24, with debt servicing costs (R356 billion) surpassing health spending and nearly matching social protection. Debt costs rose to 14.9% of total expenditure, up from 13.7% the previous year, driven by a R5.3 trillion gross loan debt. This marks a multi-year trend of increasing interest payments, straining the national budget.

Courtesy: Garrin Lambley