In its Medium-Term Budget Policy Statement, South African Finance Minister Enoch Godongwana confirmed debt as a percentage of GDP topped out at 78.4% in 2025-26, a slightly lower level than anticipated in February’s budget, and is seen declining in the years ahead. The budget deficit was now seen at 3.9% of the GDP, marginally lower than the forecast of 4% previously forecast. Meanwhile, Godongwana said the government released draft fiscal anchor legislation for public comment, expected to be tabled in parliament next year, while also announcing two months of additional fuel price relief. The Treasury also revised its 2026 growth forecast to 1.2%, down from a projected 1.6% estimate in February.