South Africa: Central government debt, total (current LCU)

Key figures

Over five years it is up 67.48% from 3.63 trillion in 2019 (10.86% a year on average, compounded). Since 1990 it is up 5,659% from 105.66 billion in 1990 (12.66% a year on average, compounded). The World Bank has no value for 14 of the years in between; the chart leaves those gaps open rather than joining across them.

What the numbers say

In 2024, South Africa's central government debt, total (current LCU) rose 8.9% on 2023 (from 5.59 trillion to 6.09 trillion).

Across the 18 yearly changes before that (1991 to 2023), the average change was +13.5% and a typical year strayed about 6.3% from that (the standard deviation). This year's change was 0.7 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

On record, the biggest yearly rise was 27.1% in 1994. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.

From 2015 to 2024 the straight-line trend is upward, about 430.46 billion a year. A straight line explains 99% of the movement over 10 observed years.

Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.

How it compares

In 2024, South Africa had the 12th highest value of the 29 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.

Closest to South Africa in the 2024 ranking

• Thailand — 8th of 29: 11.56 trillion
• Türkiye — 9th of 29: 11.38 trillion
• Brazil — 10th of 29: 9.64 trillion
• United Kingdom — 12th of 29: 3.78 trillion
• Uruguay — 13th of 29: 2.16 trillion
• Canada — 14th of 29: 1.99 trillion

What this measures

Debt is the entire stock of direct government fixed-term contractual obligations to others outstanding on a particular date. It includes domestic and foreign liabilities such as currency and money deposits, securities other than shares, and loans. It is the gross amount of government liabilities reduced by the amount of equity and financial derivatives held by the government. Because debt is a stock rather than a flow, it is measured as of a given date, usually the last day of the fiscal year. Central government is the part of general government that includes all administrative departments of the national executive, legislative, and judicial functions, other central agencies and those non-market producers controlled by the central government, whose competence extends normally over the whole economic territory. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This series is expressed in local currency units.

Limitations: For most countries central government finance data have been consolidated into one account, but for others only budgetary central government accounts are available. Countries reporting budgetary data are noted in the country metadata. Because budgetary accounts may not include all central government units (such as social security funds), they usually provide an incomplete picture. In federal states the central government accounts provide an incomplete view of total public finance. Data on government revenue and expense are collected by the IMF through questionnaires to member countries and by the Organisation for Economic Co-operation and Development (OECD).

All 21 values

Central government debt, total (current LCU) in nearby economies

• Botswana — 52.12 billion (2023)
• Eswatini — 25.39 billion (2021)
• Ethiopia — 846.21 billion (2019)
• Lesotho — 1.01 billion (2020)
• Malawi — 9.59 trillion (2023)
• Mauritius — 296.83 billion (2019)
• Zambia — 315.88 billion (2021)

More public sector data for South Africa

• Military expenditure (current USD) — 3.17 billion (2025)
• Military expenditure (current LCU) — 56.76 billion (2025)
• Military expenditure (% of GDP) — 0.74% (2025)
• Arms exports (SIPRI trend indicator values) — 115 million (2025)
• Arms imports (SIPRI trend indicator values) — 30 million (2025)
• Net incurrence of liabilities, total (current LCU) — 414.86 billion (2024)
• Net incurrence of liabilities, total (% of GDP) — 5.64% (2024)
• Net investment in nonfinancial assets (current LCU) — 98.59 billion (2024)
• Net investment in nonfinancial assets (% of GDP) — 1.34% (2024)

Reading data like this

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Questions people ask

What is South Africa's central government debt, total (current LCU)?

6.09 trillion in 2024, according to the World Bank (World Development Indicators).

How has it changed since 1990?

It is up 5,659% from 105.66 billion in 1990 (12.66% a year on average, compounded). The highest value was 6.09 trillion in 2024 and the lowest 105.66 billion in 1990.

How does South Africa rank?

12th highest of 29 economies with data for 2024.

Is the latest change in central government debt, total (current LCU) unusual for South Africa?

In 2024, South Africa's central government debt, total (current LCU) rose 8.9% on 2023 (from 5.59 trillion to 6.09 trillion). Across the 18 yearly changes before that (1991 to 2023), the average change was +13.5% and a typical year strayed about 6.3% from that (the standard deviation). This year's change was 0.7 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.

Source

World Bank, World Development Indicators, indicator GC.DOD.TOTL.CN, licensed CC BY 4.0. Original source: Government Finance Statistics Yearbook and data files, International Monetary Fund (IMF) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.

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