This CABRI Budgets in Africa (BiA) report provides an overview of revenue and expenditure trends in South Africa covering the period 2020 to 2024. The analysis draws on pilot data from CABRI’s Budgets in Africa platform.

The decline in revenue and increase in expenditure following the COVID-19 pandemic contributed to rising sovereign debt levels in South Africa. Although revenue has since recovered, overall revenue performance remains below pre-pandemic levels. South Africa has introduced spending reviews to support the transition away from incremental budgeting. Fiscal consolidation measures have shown some signs of success, with total expenditure declining in 2023 and 2024. However, the debt burden continues to rise, and more ambitious revenue mobilisation and fiscal consolidation will likely be required to ensure long-term fiscal and debt sustainability.