Infograph: Government Spendings in Africa (2023-2024)

Government Spending refers to public expenditure on goods and services and is a major component of the GDP. Government spending policies like setting up budget targets, adjusting taxation, increasing public expenditure and public works are very effective tools in influencing economic growth.

African countries have been identified by international bodies as naturally endowed with resources that serve as major financiers for many African governments yet, most countries in Africa are ranked low in human development. Though the nature of many governments is hinged on the quality of life, however, the reverse is the case for many African countries. Low development indicators as against huge African governments spending indicates low efficiency in spending. Today in Africa, government spending on human capital continues to increase over the years.

Facts & Figures

• Government Spending in Angola increased to 9769.40 AOA Billion in 2023 from 9662.80 AOA Billion in 2022. Government Spending in Angola averaged 3541.80 AOA Billion from 2003 until 2023, reaching an all-time high of 9769.40 AOA Billion in 2023 and a record low of 390.80 AOA Billion in 2003.
• Government Spending in Nigeria increased to 1191727.50 NGN Million in the fourth quarter of 2023 from 1119292.91 NGN Million in the third quarter of 2023. Government Spending in Nigeria averaged 1079993.36 NGN Million from 2010 until 2023, reaching an all-time high of 2339712.81 NGN Million in the second quarter of 2020 and a record low of 609792.40 NGN Million in the fourth quarter of 2017.
• Government Spending in South Africa decreased to 920974 ZAR Million in the third quarter of 2024 from 925175 ZAR Million in the second quarter of 2024. Government Spending in South Africa averaged 444000.62 ZAR Million from 1960 until 2024, reaching an all-time high of 925175.00 ZAR Million in the second quarter of 2024 and a record low of 65991.00 ZAR Million in the first quarter of 1960.
• Government Spending in Kenya increased to 1404662 KES Million in 2023 from 1357481 KES Million in 2022. Government Spending in Kenya averaged 286235.79 KES Million from 1964 until 2023, reaching an all-time high of 1404662.00 KES Million in 2023 and a record low of 998.00 KES Million in 1964.
• Government Spending in Ghana increased to 13631.41 GHS Million in 2023 from 13565.38 GHS Million in 2022. Government Spending in Ghana averaged 19604.37 GHS Million from 2013 until 2023, reaching an all-time high of 36961.69 GHS Million in 2021 and a record low of 10933.08 GHS Million in 2013.

Government Spending in Africa

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Sources: Trading Economics; Ministerio das Financas de Angola; Ghana Statistical Service; Kenya National Bureau of Statistics; South African Reserve Bank; National Bureau of Statistics, Nigeria.