June 24, 2020 / 1:35 PM / 16 days ago

South Africa's budget deficit seen widening to 14.6% of GDP

JOHANNESBURG, June 24 (Reuters) - South Africa’s budget deficit is projected to widen to 14.6% of gross domestic product in the current 2020/21 fiscal year, the Treasury said on Wednesday, as the COVID-19 pandemic further stifles the recession-hit economy.

In a supplementary budget in response to the coronavirus crisis, the Treasury said gross government debt will rise to 81.8% of GDP in the current fiscal year from 63.5% last year. (Reporting by Olivia Kumwenda-Mtambo, Alexander Winning and Mfuneko Toyana; Editing by Tim Cocks)

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