A wider than initially expected budget deficit forecast could see the National Treasury dig deeper into the the local bond market in an effort to finance its mounting debt.
Finance minister Tito Mboweni said in the supplementary budget on Wednesday that the Treasury expects the budget deficit to be 15.7% of GDP in the 2020/2021 fiscal year, compared to its initial forecast of 6.8%.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 Times Select.
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WATCH LIVE | Finance minister Tito Mboweni delivers supplementary budget speechFinance minister Tito Mboweni is expected to deliver the supplementary budget speech on Wednesday, after the government’s announcement that it would spend R500bn to support the economy during the Covid-19 pandemic
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