As South Africa prepares to welcome world leaders for the G20 Summit in Johannesburg, President Cyril Ramaphosa says the country has an opportunity to showcase several key economic indicators and developments that point to the “green shoots of an emerging economic recovery.”
The G20 Social Summit is scheduled to take place from 18 to 20 November 2025, in Johannesburg.
G20
South Africa is hosting the G20 summit for the first time. The country adopted the G20 Presidency theme of ‘Solidarity, Equality and Sustainability.’
South Africa assumed the Presidency of the G20 on 1 December 2024, succeeding Brazil.
Economy
Writing in his weekly newsletter on Monday, Ramaphosa said that as the country prepares to host the first G20 summit on African soil, South Africa can showcase a country and an economy on the rise.
“Unemployment is down. Data from Statistics South Africa show that the official unemployment rate fell to 31.9% between July and September this year, down from 33.2% recorded in the previous quarter. Nearly 250,000 more people were in employment in the third quarter. Of these, around 130,000 were added in the construction sector.”
Budget surplus
Ramaphosa added that the Medium-Term Budget Policy Statement (MTBPS] delivered last week points to a sustained turnaround in government finances.
“We are on track to achieve a third consecutive primary budget surplus. This means that, excluding interest payments on our debt, we are collecting more in revenue than we are spending. This is a sign of prudent financial management, giving us space to steadily reduce our debt to sustainable levels.”
Ramaphosa said that the most notable improvements have been observed in the energy sector.
“With Eskom now on the road to recovery, massive investment in renewable energy generation, and vastly improved electricity supply.”
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‘Headwinds’
Ramaphosa said that despite considerable “headwinds,” which have included a global pandemic, a debilitating energy crisis, and more recently, a challenging global trade environment, South Africa has stayed the course on economic recovery and is now seeing this pay off.
“Following a ruinous period of economic stagnation and capture of the state, we have been able to achieve sustained progress in a relatively short period of time.
“These far-reaching economic changes have a direct and material impact on the lives of every South African, on their ability to lead dignified lives, to access public services, to secure employment, and to provide for their families,” Ramaphosa said.
Ramaphosa said the Government is determined to sustain the momentum of this economic recovery, so that “we can drive inclusive growth, create jobs and improve the lives of our citizens.”
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