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Fitch says South Africa's budget partly reverses fiscal deterioration

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ECONOMY
South Africa's budget reverses some of last year's fiscal deterioration but poor finances of state-owned companies remain a major risk to fiscal targets, ratings agency Fitch said on Friday. In a budget announced on Wednesday, the Treasury said value-added tax would be raised for the first time in 25 years, part of efforts to cut the deficit and stabilise debt.
 
 
 
 
 

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