October 25, 2017 / 12:58 PM / 10 months ago

South Africa dollar bonds slide on budget disappointment

LONDON, Oct 25 (Reuters) - South Africa’s sovereign dollar bonds fell on Wednesday, with some longer-term issues down over 1 cent, after the country’s Treasury forecast debt would jump to almost two-thirds of gross domestic product in the next three years.

The 2041 issue was down 1.2 cents to trade around 105.4 cents according to Tradeweb, whilst the 2044 issue was down 1.3 cents to 94.3 cents in the dollar. Both were at their lowest level since July.

Other issues also sold off, with the 2026 issue down 0.8 cents to 99.4 cents.

The projected budget deficit was wider than what economists had projected at 4.3 percent of GDP and the highest since 2009. (Reporting by Claire Milhench; editing by Marc Jones)

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