Pretoria — The South African government has announced its first primary budget surplus in fifteen years, a significant financial milestone last seen prior to the 2008 global financial crisis. The Government Communication and Information System (GCIS) credited this achievement to the concerted efforts of President Cyril Ramaphosa, the Minister of Finance, and the Cabinet of the sixth administration, amidst various economic challenges.

According to South African Government News Agency, this fiscal success was achieved through a series of strategic financial measures and reforms initiated by the sixth administration. These included the implementation of cost-cutting measures within the government, reducing bailouts to state-owned entities, enhancing performance monitoring, and introducing multi-disciplinary intervention teams that involved the private sector. The administration's focus on turning around state-owned enterprises and boosting critical economic sectors like infrastructure has begun to yield positive results, indicating early signs of self-sustaining business models.

As the seventh administration begins its tenure, it inherits a budget surplus that provides a solid foundation for advancing the goals of Vision 2030, the National Development Plan. The government has emphasized the importance of continued collaboration with business and labor leaders to propel economic growth, focusing on job creation and public-private partnerships as key strategies for a robust economy.