SPY468.28+9.49 2.07%
DIA357.74+4.92 1.39%
IXIC15,686.92+461.76 3.03%

South Africa cuts deficit forecast, sees debt peaking at lower level

reuters.com · 11/11/2021 07:04
South Africa cuts deficit forecast, sees debt peaking at lower level

- South Africa's National Treasury said on Thursday that it saw the current fiscal year's budget deficit at 7.8% of gross domestic product (GDP), compared to a 9.3% projection made in February.

In its medium-term budget policy statement, the Treasury also said it saw gross debt peaking at a lower level of 78.1% of GDP in 2025/26, compared to 88.9% seen in February.

The improved projections were influenced by bumper mining tax receipts linked to high metals prices and a GDP rebasing exercise by the statistics agency.


(Reporting by Alexander Winning ; Editing by Olivia Kumwenda-Mtambo)

((alexander.winning@tr.com; +27 10 346 1076))