South Africa’s Fiscal Deficit Set to Be 4.5% for 2011-12
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South Africa’s budget deficit will probably be 4.5 percent for the 12-month period that ended yesterday, Finance Minister Pravin Gordhan said.
The fiscal gap is narrower than a previous estimate of 4.8 percent of gross domestic product, Gordhan told reporters in Pretoria today. The government collected 742.7 billion rand ($96.8 billion) of revenue, 4 billion rand more than forecast, he said. Government spending was 968.5 billion rand, 4 billion rand less than previously estimated, he said.