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Data from World Bank. Forecasts by Sigmanomics Forecast Engine.
South AfricaSouth Africa Central Government Debt (% of GDP) held to 79.45 Percent in December 2023
World BankYearlyReleased December 2023
South Africa Central Government Debt (% of GDP) held to 79.45 Percent in December 2023.
Latest Release
79.446908
Actual
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Consensus
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Previous
Sigmacast Track Record
Sigmacast track record will appear here once this indicator has been released 3+ times since Sigmanomics began tracking.
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Signal Bias | Action |
|---|---|---|---|---|---|
| USD/ZAR | ▼ Inverse | −0.50 | FOREX | Bullish ZAR | → View |
| EUR/ZAR | ▼ Inverse | −0.40 | FOREX | Bullish ZAR | → View |
| XAU/USD | ▲ Direct | +0.40 | COMMODITIES | Watch | → View |
| EUR/USD | ▲ Direct | +0.30 | FOREX | Watch | → View |
| S&P 500 | ▲ Direct | +0.30 | INDEX | Watch | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
Central Government Debt (% of GDP) (South Africa) was reported at 79.45 Percent in December 2023. This is classified as a high-impact indicator released on a yearly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 76.58 Percent, up from the prior three at 66.47 Percent.
THE MODEL'S TAKE
Historically, this indicator is negatively correlated with USD/ZAR (Bullish ZAR). A secondary relationship exists with XAU/USD, positively correlated (Watch).
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Balance of Trade (Jun 30).
Auto-generated from current model state · Refreshes on each release · Last update December 2023.
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Central Government Debt (% of GDP) - ZA
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About Central Government Debt (% of GDP) — South Africa
WHY THIS INDICATOR MATTERS
Aggregate growth figures anchor cyclical positioning across asset classes and inform fiscal and monetary policy debate. Surprises against consensus typically move rates and currencies on release. Released annually.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/ZAR (Bullish ZAR, r=-0.50) — a useful reference for forex-focused traders.
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EXPECTED ZONE
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