BOLDEN African News · Wednesday 21 October 2026
South Africa's medium-term budget cuts 2026 growth forecast to 1.2% and narrows the deficit
Finance Minister Enoch Godongwana's Medium-Term Budget Policy Statement lowered the 2026 growth forecast to 1.2% from 1.6%. The deficit is put at 3.9% of GDP this year, and debt is said to have stabilised at 78.4% of GDP in 2025/26. Temporary fuel levy relief worth R10 billion runs from 4 November 2026 to 5 January 2027.
Why it matters
Stabilising debt and a narrower deficit are central to South Africa's credit outlook and the cost of capital for businesses operating there.
Source: BusinessTech · 21 October 2026