Economy · Public debt · South Africa
South Africa’s public debt rose to 82.8% of GDP in 2024.
82.8% of GDP
2024
Up 3.3 pp from 2023.
Updated 8 Oct 2026
In plain words
82.8% of GDP
What it is. This measure adds up what the central government owes and divides it by a year of national output, so the ratio can rise when borrowing grows or when the economy slows. It covers the national treasury's own debt. Debt held by other public bodies such as local authorities sits outside it.
Lower is better. A lower ratio means less of the country's income is committed to repaying lenders, and the state has more room to borrow in a downturn. The latest figure is 82.8% of GDP for 2024, up from 79.4% a year earlier, a rise of 3.3 percentage points. Since 2015 the series has ranged from a low of 52.7% of GDP in 2015 to 82.8% of GDP in 2024. The latest reading therefore sits at the top of its range for the period.
Why it matters. At 82.8% of GDP, South Africa's government owes an amount close to a full year of national output. Interest on that debt is paid out of tax revenue, which leaves less for schools, clinics, grants and infrastructure. Lenders also watch this ratio when they set the interest rate on new government borrowing, and those rates feed into what households and firms pay for credit.
| Period | Public debt · South Africa |
|---|---|
| 2015 | 52.7% of GDP |
| 2016 | 53.7% of GDP |
| 2017 | 56.3% of GDP |
| 2018 | 59.1% of GDP |
| 2019 | 64.6% of GDP |
| 2020 | 75.7% of GDP |
| 2021 | 74.1% of GDP |
| 2022 | 76.2% of GDP |
| 2023 | 79.4% of GDP |
| 2024 | 82.8% of GDP |
Source: World Bank, World Development Indicators (CC BY 4.0) · Licence: CC BY 4.0
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Strata-AF™ Data, Public debt, South Africa, 2024; source World Bank, World Development Indicators (CC BY 4.0), retrieved 8 Oct 2026; https://data.strata-af.com/economy/public-debt/south-africa
Data insights · Worked out from the published figures
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Methodology
Central government debt, total, as a share of GDP. Unit: % of GDP. The measure covers central government only.
Source: World Bank, World Development Indicators (series GC.DOD.TOTL.GD.ZS), retrieved through the World Bank API and published under CC BY 4.0. Updated annually; the World Bank's own source notes apply.