Ramaphosa says better public finances must improve daily life
In his weekly newsletter, President Cyril Ramaphosa said stable public debt and a primary budget surplus must bring visible gains for citizens. He named government savings, revenue collection and the fuel levy reduction as part of the effort.
Ramaphosa said public debt has stabilised and is now beginning to decline, for the first time in nearly two decades. He said the end of load shedding, a stronger fiscal position and removal from the FATF grey list raised public confidence. He linked these to the first sovereign credit rating upgrade in over 16 years.
He said the South African Revenue Service collected R2.01 trillion in net revenue in the 2025/26 financial year. He said more than R11 billion in savings was identified in the medium term by rationalising low-priority programmes. In his words: "Our aim is not to spend less but to spend smarter".
The social wage makes up around 60% of non-interest spending, he said. More than 11 million households receive free basic services. More than 18 million people receive school meals or social grants. The government plans to employ more than 3 500 social workers for gender-based violence response.
Ramaphosa also said unemployment is still far too high. He said too many families struggle to get by and too many communities face poor services.
Key facts
- Who
- Cyril Ramaphosa (President of South Africa); Enoch Godongwana (Finance Minister); South African Revenue Service (revenue collection agency)
- What
- In his weekly newsletter to the nation, President Cyril Ramaphosa said gains in South Africa's public finances, including stabilised public debt and a primary budget surplus, must be matched by visible improvements in people's lives. He cited government savings, revenue collection and the fuel levy reduction as part of this.
- When
- 26 October 2026
- Where
- South Africa
- Status
- Reported