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South Africa 2017/18 budget deficit widens to 4.3 pct of GDP
October 25, 2017 / 12:28 PM / a month ago

South Africa 2017/18 budget deficit widens to 4.3 pct of GDP

CAPE TOWN, Oct 25 (Reuters) - South Africa’s budget deficit estimate for the 2017/18 fiscal year widened to 4.3 percent of GDP from 3.1 percent previously as economic growth slowed and revenue collection fell, the Treasury said in its medium-term budget policy statement.

The projected budget deficit was wider than what economists had projected and the highest since 2009.

Economists polled by Reuters expected a budget deficit of 3.9 percent for the year that began in March. (Reporting by Olivia Kumwenda-Mtambo; Editing by James Macharia)

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