# National Treasury says government continues to achieve its fiscal targets, with the fiscal metrics looking even better than projected. Treasury now projects that the country’s debt-to-GDP ratio will fall below 70-percent by 2032/2033, which is one year earlier than forecast in the Medium Term Budget Policy Statement. The changes follow Statistics South Africa’s GDP rebasing and benchmarking exercise, which increased the measured size of the economy by 5.1-percent in 2025/2026. Treasury’s director-general Duncan Pieterse says this does not reflect new revenue gains, spending cuts, or a reduction in government’s debt.
Treasury says SA’s debt-to-GDP ratio outlook is improving following revisions