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HSBC Sees SA's Budget Deficit Narrowing to 7.8% of GDP from 11.2%

SOUTH AFRICA
  • HSBC SEES S. AFRICA'S 2021-22 BUDGET DEFICIT AT 7.8% OF GDP
  • The narrowing of the budget deficit to 7.8% of gross domestic product for the 2021-22 fiscal year, compared with 11.2% for the year through March 2021,
  • creates an opportunity for policy reform "to address some of the structural constraints to faster economic growth and the factors that undermine fiscal sustainability
  • Current account surplus estimate lifted to 2.5% of GDP in 2021
  • A faster pace of near-term fiscal consolidation anticipated as tax receipts beat official estimates by 1.2% of GDP
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com
MNI London Bureau | +44 020-3983-7894 | murray.nichol@marketnews.com

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