S. Africa Budget Deficit 10% Of GDP In Q1

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Thursday, the South African Reserve Bank said in a report that nation's budget deficit was 10% of GDP in the first quarter of the fiscal year. At the same time, the deficit, excluding borrowing and debt repayment, rose to ZAR 57.7 billion from a year ago.

In a separate report, the central bank said the deficit in current account was 3.2% of GDP in the second quarter, narrowing from 7% of GDP in the previous quarter.

Thursday, the South African Reserve Bank said in a report that nation's budget deficit was 10% of GDP in the first quarter of the fiscal year. At the same time, the deficit, excluding borrowing and debt repayment, rose to ZAR 57.7 billion from a year ago. (Market News Provided by RTTNews)