Gdp Growth 2024 South African Economy. South africa's budget deficit for the 2024/25 fiscal year stood at 3.3% of gdp as of august, according to national treasury data, lower than the same period last year. Increasingly severe domestic constraints, alongside slowing global demand, led to gdp growth falling to just 0.7% in 2023, from 1.9% in 2022.
Imf predicts global public debt will be at 93% of gdp by end of 2024. The outlook is weakly positive, with gdp growth projected at 1.3% in 2024 and 1.6% in 2025, as new infrastructure investments support construction and recovery of other sectors.