South Africa Fiscal Trends (Quarterly Report) - September 2019

After registering a surplus between 1995 and 2008, Government's primary balance—the surplus or deficit before interest rate expenses and one of the most important indicators of fiscal sustainability—turned again into a deficit in 2009 and amounted to -3.3% of GDP in early 2010. This deficit has relented somewhat since then and amounted to 1% in the year ended March 2019.

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