South Africa’s budget deficit reached 62.68 billion rand in January 2023, slightly up from 62.42 billion rand in January 2022, according to the National Treasury data.

In January, South Africa reported a budget deficit totaling 62.68 billion rand, equivalent to approximately $3.39 billion. This figure indicates a slight increase in the deficit from January of the previous year, when it was recorded at 62.42 billion rand. Data released by the National Treasury highlights the ongoing fiscal challenges faced by the country.

In summary, South Africa continues to experience significant budgetary pressures, with the January deficit reflecting a minor increase compared to the same month last year. This situation underscores the necessity for effective fiscal management as the government navigates economic challenges.

Original Source: www.tradingview.com