Budget deficit to hit -14%, Treasury tells Nedlac
Before the Covid-19 crisis, which has sent 90% of countries into deep recession, the Treasury had anticipated a budget deficit for the fiscal year of -6.8%
20 June 2020 - 11:56
UPDATED 20 June 2020 - 17:50
The Treasury expects a budget deficit — which is shortfall between revenue and expenditure — of more than 14%, it has said in a presentation to social partners ahead of Wednesday’s supplementary budget.
The -14% is higher than most previous estimates by multilateral organisations and private economists. Most private economists’ forecasts have not breached -10% for 2020-21...
BL Premium
This article is reserved for our subscribers.
A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, ProfileData financial data, and digital access to the Sunday Times and Sunday Times Daily.
Already subscribed? Simply sign in below.
Questions or problems? Email helpdesk@businesslive.co.za or call 0860 52 52 00. Got a subscription voucher? Redeem it now